RiverPark Advisors LLC cut its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 12.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 41,733 shares of the financial services provider’s stock after selling 5,929 shares during the period. RiverPark Advisors LLC’s holdings in Intercontinental Exchange were worth $2,945,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of ICE. Pinnacle Wealth Planning Services Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $109,000. Valeo Financial Advisors LLC boosted its stake in Intercontinental Exchange by 257.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $122,000. Cerebellum GP LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $127,000. Finally, Americafirst Capital Management LLC acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $145,000. 90.74% of the stock is owned by institutional investors and hedge funds.
Shares of Intercontinental Exchange Inc (NYSE ICE) opened at $75.73 on Monday. Intercontinental Exchange Inc has a 52-week low of $57.91 and a 52-week high of $76.14. The company has a market cap of $44,097.14, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.66 and a beta of 0.65. 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 released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.15 billion. During the same period in the previous year, the firm earned $0.71 EPS. Intercontinental Exchange’s revenue was up .5% on a year-over-year basis. sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders 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 1.27%. Intercontinental Exchange’s dividend payout ratio (DPR) is 18.87%.
In related news, CEO Jeffrey C. Sprecher sold 132,245 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.34, for a total value of $9,698,848.30. Following the sale, the chief executive officer now directly owns 1,454,661 shares in the company, valued at approximately $106,684,837.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas W. Farley sold 18,046 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $73.97, for a total transaction of $1,334,862.62. Following the completion of the sale, the insider now owns 86,293 shares in the company, valued at $6,383,093.21. The disclosure for this sale can be found here. Insiders have sold a total of 186,201 shares of company stock worth $13,690,343 over the last 90 days. 1.50% of the stock is owned by insiders.
A number of research analysts have issued reports on the stock. 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 target price for the company. Zacks Investment Research lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. JPMorgan Chase & Co. raised shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $76.00 to $83.00 in a research note on Tuesday, February 20th. Argus boosted their target price on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America reduced their target price on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $76.62.
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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.
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