Guinness Asset Management Ltd raised its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 26.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,830 shares of the financial services provider’s stock after purchasing an additional 15,330 shares during the quarter. Guinness Asset Management Ltd’s holdings in Intercontinental Exchange were worth $5,209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $380,000. Macquarie Group Ltd. grew its position in shares of Intercontinental Exchange by 0.9% in the 3rd quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock worth $200,298,000 after acquiring an additional 24,797 shares in the last quarter. AXA lifted its holdings in shares of Intercontinental Exchange by 6.8% in the 3rd quarter. AXA now owns 255,959 shares of the financial services provider’s stock worth $17,585,000 after purchasing an additional 16,304 shares during the last quarter. QS Investors LLC lifted its holdings in shares of Intercontinental Exchange by 10.0% in the 2nd quarter. QS Investors LLC now owns 10,381 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 946 shares during the last quarter. Finally, New Mountain Vantage Advisers L.L.C. lifted its holdings in shares of Intercontinental Exchange by 0.4% in the 2nd quarter. New Mountain Vantage Advisers L.L.C. now owns 769,390 shares of the financial services provider’s stock worth $50,718,000 after purchasing an additional 3,424 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.
ICE has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Citigroup raised their price target on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. UBS Group raised their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Argus lifted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.08.
In other news, CFO Scott A. Hill sold 14,772 shares of Intercontinental Exchange stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.00, for a total transaction of $1,107,900.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction on Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the sale, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,151,489.03. The disclosure for this sale can be found here. Insiders have sold 48,910 shares of company stock worth $3,579,672 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $68.60 on Tuesday. Intercontinental Exchange Inc has a 12 month low of $56.97 and a 12 month high of $76.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $40,130.00, a price-to-earnings ratio of 16.18, a PEG ratio of 2.41 and a beta of 0.63.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. research analysts forecast that Intercontinental Exchange Inc will post 3.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is 18.87%.
Intercontinental Exchange announced that its board has initiated a share repurchase plan on Thursday, November 2nd that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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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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