DekaBank Deutsche Girozentrale cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 304,124 shares of the financial services provider’s stock after selling 10,226 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Intercontinental Exchange were worth $20,168,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock valued at $2,098,452,000 after buying an additional 33,898,484 shares in the last quarter. OppenheimerFunds Inc. boosted its position in shares of Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock worth $337,737,000 after buying an additional 4,361,480 shares during the last quarter. FMR LLC boosted its position in shares of Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Intercontinental Exchange during the first quarter worth approximately $74,077,000. Institutional investors own 89.50% of the company’s stock.
Intercontinental Exchange Inc. (ICE) opened at 65.01 on Friday. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The stock’s 50 day moving average price is $65.81 and its 200 day moving average price is $61.47. The stock has a market capitalization of $7.48 billion, a PE ratio of 24.09 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.
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Several brokerages have issued reports on ICE. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Thursday, July 13th. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $73.00 target price (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Citigroup Inc. assumed coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 target price on the stock. Finally, BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $68.36.
In other Intercontinental Exchange news, Director Charles R. Crisp sold 3,365 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $58.65, for a total value of $197,357.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Marc Forneri sold 6,000 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $58.27, for a total value of $349,620.00. Following the completion of the transaction, the director now directly owns 47,350 shares in the company, valued at $2,759,084.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,389 shares of company stock worth $10,279,500. Company insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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