Wealthfront Inc. trimmed its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 8.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,969 shares of the financial services provider’s stock after selling 1,528 shares during the quarter. Wealthfront Inc.’s holdings in Intercontinental Exchange were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $122,000. Cerebellum GP LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $127,000. Americafirst Capital Management LLC bought a new stake in Intercontinental Exchange during the third quarter worth about $145,000. Calton & Associates Inc. bought a new stake in Intercontinental Exchange during the fourth quarter worth about $173,000. Finally, Penserra Capital Management LLC grew its stake in Intercontinental Exchange by 75.8% during the fourth quarter. Penserra Capital Management LLC now owns 2,400 shares of the financial services provider’s stock worth $169,000 after buying an additional 1,035 shares during the last quarter. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Scott A. Hill sold 7,526 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $75.00, for a total value of $564,450.00. Following the transaction, the chief financial officer now directly owns 202,371 shares in the company, valued at $15,177,825. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dean S. Mathison sold 2,570 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total transaction of $179,308.90. The disclosure for this sale can be found here. Insiders have sold 48,910 shares of company stock worth $3,579,672 over the last quarter. 1.50% of the stock is owned by company insiders.
Several analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $76.00 to $83.00 in a research note on Tuesday. Argus reaffirmed a “buy” rating and set a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Bank of America decreased their price objective on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Berenberg Bank assumed coverage on shares of Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Zacks Investment Research raised shares of 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $76.62.
Intercontinental Exchange Inc (NYSE ICE) opened at $72.86 on Wednesday. Intercontinental Exchange Inc has a 12-month low of $56.97 and a 12-month high of $76.14. The stock has a market cap of $41,767.97, a P/E ratio of 17.18, a PEG ratio of 2.53 and a beta of 0.66. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99.
Intercontinental Exchange (NYSE:ICE) last announced 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. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $0.71 earnings per share. Intercontinental Exchange’s quarterly revenue was up .5% on a year-over-year basis. research analysts anticipate that Intercontinental Exchange Inc will post 3.54 EPS for the current fiscal year.
Intercontinental Exchange declared that its Board of Directors has authorized 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 purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. Intercontinental Exchange’s payout ratio is 18.87%.
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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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