Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 21.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,970 shares of the financial services provider’s stock after selling 2,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Intercontinental Exchange were worth $633,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Intercontinental Exchange by 3.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,977,489 shares of the financial services provider’s stock valued at $139,532,000 after purchasing an additional 58,841 shares during the period. Coastline Trust Co bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $776,000. Creative Planning grew its stake in shares of Intercontinental Exchange by 13.3% in the 4th quarter. Creative Planning now owns 12,612 shares of the financial services provider’s stock valued at $890,000 after buying an additional 1,484 shares in the last quarter. National Pension Service grew its stake in shares of Intercontinental Exchange by 0.3% in the 4th quarter. National Pension Service now owns 528,613 shares of the financial services provider’s stock valued at $37,299,000 after buying an additional 1,769 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Intercontinental Exchange by 17.9% in the 4th quarter. Bank of Montreal Can now owns 563,903 shares of the financial services provider’s stock valued at $39,789,000 after buying an additional 85,435 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.
Several brokerages recently commented on ICE. UBS Group boosted their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Citigroup upped their target price on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Bank of America cut their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Argus reiterated a “buy” rating and set a $67.00 price target (down from $80.00) on shares of Intercontinental Exchange in a report on Friday, February 9th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $76.08.
Shares of Intercontinental Exchange Inc (ICE) traded up $1.95 during mid-day trading on Wednesday, hitting $71.07. The stock had a trading volume of 3,170,000 shares, compared to its average volume of 2,910,000. The company has a market capitalization of $41,580.00, a PE ratio of 16.76, a PEG ratio of 2.42 and a beta of 0.63. 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.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the 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 firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 earnings per share. equities research analysts forecast that Intercontinental Exchange Inc will post 3.54 earnings per share for the current year.
The company also recently declared 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 annualized dividend and a yield of 1.35%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio is 18.87%.
Intercontinental Exchange announced that its board has approved a share buyback program on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $71.93, for a total transaction of $539,475.00. Following the transaction, the insider now owns 377,471 shares in the company, valued at $27,151,489.03. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dean S. Mathison sold 1,042 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total value of $78,973.18. Following the transaction, the insider now owns 12,485 shares in the company, valued at approximately $946,238.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,910 shares of company stock worth $3,579,672. 1.50% of the stock is owned by company insiders.
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About Intercontinental Exchange
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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