Royal Bank of Canada Boosts Stake in Nasdaq
Royal Bank of Canada increased its stake in Nasdaq, Inc., purchasing an additional 32,243 shares in the first quarter. This brings the bank's total ownership to 869,655 shares, valued at $73,824,000, accounting for approximately 0.15% of the company.
According to MarketBeat.com, institutional investors and hedge funds own a significant portion of Nasdaq's stock, with 72.47% being held by these entities. This includes Legal & General Group Plc, which raised its stake in Nasdaq by 1.6% in the fourth quarter, and M&T Bank Corp, which grew its stake by 27.5% during the same period.
Nasdaq's shares opened at $94.19 on Friday, with a market capitalization of $52.65 billion. The company has a price-to-earnings ratio of 27.46 and a beta of 0.99. In July, Nasdaq reported earnings per share of $1.07, beating analysts' estimates by $0.09.