Independent Franchise Partners LLP lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,831,853 shares of the financial services provider’s stock after acquiring an additional 49,928 shares during the quarter. Intercontinental Exchange accounts for about 5.0% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 8th largest holding. Independent Franchise Partners LLP’s holdings in Intercontinental Exchange were worth $782,567,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Dorato Capital Management purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $29,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Finally, Steph & Co. grew its holdings in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on ICE shares. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Barclays restated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a report on Friday, March 6th. UBS Group restated a “buy” rating and set a $205.00 target price on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Finally, Weiss Ratings cut Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.00.
Insider Buying and Selling
In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock worth $2,046,324 over the last ninety days. Company insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Performance
Shares of Intercontinental Exchange stock opened at $134.41 on Thursday. The business has a 50-day moving average of $152.67 and a 200 day moving average of $158.94. Intercontinental Exchange Inc. has a 12 month low of $133.73 and a 12 month high of $189.35. The stock has a market capitalization of $76.01 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.
Intercontinental Exchange Company Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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