Montag & Caldwell LLC cut its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 752,496 shares of the financial services provider’s stock after selling 22,957 shares during the period. Intercontinental Exchange makes up approximately 3.3% of Montag & Caldwell LLC’s holdings, making the stock its 13th biggest holding. Montag & Caldwell LLC’s holdings in Intercontinental Exchange were worth $64,670,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in ICE. Moreno Evelyn V raised its position in shares of Intercontinental Exchange by 1.6% in the 2nd quarter. Moreno Evelyn V now owns 69,174 shares of the financial services provider’s stock valued at $5,944,000 after purchasing an additional 1,060 shares in the last quarter. Rosenbaum Jay D. raised its position in shares of Intercontinental Exchange by 3.0% in the 2nd quarter. Rosenbaum Jay D. now owns 8,215 shares of the financial services provider’s stock valued at $705,000 after purchasing an additional 240 shares in the last quarter. Watch Point Trust Co raised its position in shares of Intercontinental Exchange by 19.3% in the 2nd quarter. Watch Point Trust Co now owns 35,086 shares of the financial services provider’s stock valued at $3,015,000 after purchasing an additional 5,670 shares in the last quarter. TRUE Private Wealth Advisors acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $58,000. Finally, Cohen Lawrence B raised its position in shares of Intercontinental Exchange by 2.1% in the 2nd quarter. Cohen Lawrence B now owns 23,081 shares of the financial services provider’s stock valued at $1,984,000 after purchasing an additional 465 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.
ICE has been the topic of a number of recent analyst reports. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Citigroup lowered Intercontinental Exchange from a “buy” rating to a “neutral” rating and upped their target price for the company from $92.00 to $99.00 in a research report on Monday, July 22nd. Finally, Raymond James upped their target price on Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average price target of $88.21.
Shares of NYSE ICE traded up $1.10 during trading on Thursday, reaching $90.37. The stock had a trading volume of 53,918 shares, compared to its average volume of 2,087,544. Intercontinental Exchange Inc has a one year low of $69.69 and a one year high of $93.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $50.76 billion, a PE ratio of 25.17, a PEG ratio of 2.93 and a beta of 0.50. The stock has a 50 day simple moving average of $89.70.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.85%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc will post 3.78 earnings per share for the current year.
In other news, General Counsel Andrew J. Surdykowski sold 2,490 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $89.53, for a total value of $222,929.70. Following the completion of the sale, the general counsel now directly owns 41,516 shares in the company, valued at approximately $3,716,927.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 53,166 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $81.26, for a total value of $4,320,269.16. The disclosure for this sale can be found here. Insiders sold a total of 179,966 shares of company stock valued at $15,414,996 over the last quarter. Company insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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