Shares of Nasdaq, Inc. (NASDAQ:NDAQ), Totaling 28,845, Are Acquired by Dai-ichi Life Insurance Company Ltd

2 min read | November 28, 2024 04:10 AM PST | By Team Kalkine Media

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Shares of Nasdaq, Inc. (NASDAQ:NDAQ), Totaling 28,845, Are Acquired by Dai-ichi Life Insurance Company Ltd — Image source: Shutterstock

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Highlights:

Dai ichi Life Insurance Company Ltd acquired a new stake in Nasdaq, Inc. during the third quarter, purchasing 28,845 shares.

Several institutional investors also adjusted their positions in Nasdaq, with 72.47% of shares currently held by institutional entities.

Nasdaq reported strong quarterly earnings, exceeding analyst expectations, and announced a dividend distribution for the upcoming quarter.

Dai ichi Life Insurance Company Ltd acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the third quarter, purchasing 28,845 shares valued at approximately $2.1 million. This marks a significant entry into the financial services provider’s stock. Alongside this, other institutional investors also made adjustments to their holdings in Nasdaq. For instance, Qsemble Capital Management LP increased its stake by 28.1%, now owning 38,471 shares, while several other entities, including DRW Securities LLC and Independent Advisor Alliance, added new positions during the same period. Currently, institutional investors and hedge funds own 72.47% of Nasdaq’s stock, reflecting substantial institutional involvement.

Nasdaq’s stock recently saw an uptick of 0.5%, trading at $83.05, following strong quarterly performance. The company reported earnings of $0.74 per share, surpassing the consensus estimate of $0.69. Revenue for the quarter totaled $1.15 billion, slightly below expectations but reflecting a significant 21.9% year-over-year growth. Nasdaq’s return on equity stood at 14.56%, with a net margin of 13.67%, highlighting its solid financial position.

In addition to the strong earnings report, Nasdaq also announced a quarterly dividend of $0.24 per share, which is scheduled to be paid on December 20th to shareholders of record on December 6th. This move reflects the company’s commitment to returning value to shareholders, with an annualized dividend yield of 1.16%.

Insider activity has also been notable, with several executive vice presidents selling shares. EVP Bradley J. Peterson sold 13,642 shares in late October, while EVP Jeremy Skule sold 12,075 shares in November. These transactions reflect a decrease in insider ownership, with a total of 49,459 shares sold in the past quarter.

With continued institutional support and strong performance in recent quarters, Nasdaq remains a key player in the financial services sector.

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