Russell Investments Group Ltd. decreased its position in Intercontinental Exchange Inc (NYSE:ICE) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,271,894 shares of the financial services provider’s stock after selling 71,395 shares during the quarter. Russell Investments Group Ltd. owned 0.39% of Intercontinental Exchange worth $160,182,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Intercontinental Exchange by 14.6% in the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock worth $712,683,000 after purchasing an additional 1,325,290 shares during the last quarter. Capital International Investors raised its stake in Intercontinental Exchange by 15.6% during the 3rd quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares in the last quarter. Egerton Capital UK LLP bought a new stake in Intercontinental Exchange during the 3rd quarter valued at $47,128,000. Alyeska Investment Group L.P. raised its stake in Intercontinental Exchange by 240.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 598,641 shares of the financial services provider’s stock valued at $41,127,000 after acquiring an additional 422,899 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. bought a new stake in Intercontinental Exchange during the 3rd quarter valued at $27,705,000. Institutional investors own 90.30% of the company’s stock.
In other Intercontinental Exchange news, insider Dean S. Mathison sold 1,042 shares of the business’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 completion of the sale, the insider now owns 12,485 shares of the company’s stock, valued at $946,238.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dean S. Mathison sold 2,570 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total value of $179,308.90. The disclosure for this sale can be found here. Insiders sold 48,910 shares of company stock worth $3,579,672 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.
A number of analysts have recently commented on ICE shares. Argus boosted their price objective on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Wednesday, January 3rd. UBS Group lifted their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Citigroup lifted their target price on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Berenberg Bank initiated coverage on Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $76.08.
Shares of Intercontinental Exchange Inc (ICE) traded up $1.63 during mid-day trading on Wednesday, hitting $70.75. The stock had a trading volume of 1,517,057 shares, compared to its average volume of 2,863,654. Intercontinental Exchange Inc has a twelve month low of $56.97 and a twelve 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 stock has a market capitalization of $39,945.38, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.42 and a beta of 0.66.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. analysts anticipate that Intercontinental Exchange Inc will post 3.54 EPS for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has authorized a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.36%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 18.87%.
COPYRIGHT VIOLATION WARNING: “Russell Investments Group Ltd. Lowers Position in Intercontinental Exchange Inc (NYSE:ICE)” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/14/russell-investments-group-ltd-sells-71395-shares-of-intercontinental-exchange-inc-ice.html.
Intercontinental Exchange 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.
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.