Xact Kapitalforvaltning AB grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 93,977 shares of the financial services provider’s stock after acquiring an additional 1,529 shares during the period. Xact Kapitalforvaltning AB’s holdings in Intercontinental Exchange were worth $6,456,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in shares of Intercontinental Exchange by 1,254.2% in the second quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock valued at $596,480,000 after purchasing an additional 8,380,362 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Intercontinental Exchange by 19.9% in the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after purchasing an additional 1,883,432 shares in the last quarter. Prudential PLC grew its holdings in shares of Intercontinental Exchange by 39,517.6% in the second quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after purchasing an additional 1,477,562 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $97,240,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $69,836,000. 89.88% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on ICE. Citigroup Inc. boosted their price target on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. UBS AG boosted their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Royal Bank of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Barclays PLC upped their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Finally, Wells Fargo & Company upped their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $73.30.
Shares of Intercontinental Exchange Inc. (ICE) traded up $0.07 during mid-day trading on Friday, hitting $66.27. 1,621,700 shares of the stock traded hands, compared to its average volume of 2,656,807. The stock has a market cap of $38,728.73, a price-to-earnings ratio of 22.67, a P/E/G ratio of 2.45 and a beta of 0.71. Intercontinental Exchange Inc. has a 1-year low of $53.91 and a 1-year high of $71.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. equities analysts expect that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current year.
Intercontinental Exchange declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the transaction, the insider now owns 382,471 shares in the company, valued at $24,600,534.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,550 shares of company stock worth $10,414,330. Insiders own 1.50% of the company’s stock.
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Intercontinental Exchange Company Profile
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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