Los Angeles Capital Management & Equity Research Inc. decreased its stake in Intercontinental Exchange Inc (NYSE:ICE) by 13.0% during the third quarter, Holdings Channel reports. The institutional investor owned 233,176 shares of the financial services provider’s stock after selling 34,960 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Intercontinental Exchange were worth $17,463,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Colony Group LLC increased its holdings in shares of Intercontinental Exchange by 19.4% in the 2nd quarter. Colony Group LLC now owns 4,221 shares of the financial services provider’s stock worth $310,000 after buying an additional 686 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Atria Investments LLC now owns 17,877 shares of the financial services provider’s stock valued at $1,339,000 after purchasing an additional 692 shares in the last quarter. DNB Asset Management AS boosted its stake in shares of Intercontinental Exchange by 0.3% in the 3rd quarter. DNB Asset Management AS now owns 205,036 shares of the financial services provider’s stock valued at $15,355,000 after purchasing an additional 706 shares in the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Intercontinental Exchange by 15.4% in the 2nd quarter. Traynor Capital Management Inc. now owns 5,309 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 707 shares in the last quarter. Finally, World Asset Management Inc boosted its stake in shares of Intercontinental Exchange by 2.0% in the 2nd quarter. World Asset Management Inc now owns 37,002 shares of the financial services provider’s stock valued at $2,721,000 after purchasing an additional 709 shares in the last quarter. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
ICE has been the subject of a number of research reports. ValuEngine raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. FIX initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price objective for the company. Wells Fargo & Co upped their price objective on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, November 1st. Finally, Barclays upped their price objective on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $84.07.
Shares of ICE opened at $79.08 on Friday. The firm has a market cap of $44.74 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.27 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc has a twelve month low of $65.96 and a twelve month high of $80.00.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. As a group, equities research analysts forecast that Intercontinental Exchange Inc will post 3.52 EPS for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 31st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Intercontinental Exchange news, President Benjamin Jackson sold 2,860 shares of the stock in a transaction on Friday, September 14th. The shares were sold at an average price of $77.88, for a total transaction of $222,736.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,000 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $73.28, for a total transaction of $5,862,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 288,819 shares of company stock valued at $21,896,765 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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