Teachers Retirement System of The State of Kentucky cut its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,075 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Intercontinental Exchange were worth $4,380,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI bought a new position in Intercontinental Exchange in the third quarter valued at approximately $380,000. Macquarie Group Ltd. boosted its stake in Intercontinental Exchange by 0.9% in the third quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock valued at $200,298,000 after acquiring an additional 24,797 shares during the last quarter. AXA boosted its stake in Intercontinental Exchange by 6.8% in the third quarter. AXA now owns 255,959 shares of the financial services provider’s stock valued at $17,585,000 after acquiring an additional 16,304 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Intercontinental Exchange by 1.1% in the fourth quarter. Lazard Asset Management LLC now owns 6,126,380 shares of the financial services provider’s stock valued at $432,276,000 after acquiring an additional 63,944 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Intercontinental Exchange by 17.9% in the fourth quarter. Bank of Montreal Can now owns 563,903 shares of the financial services provider’s stock valued at $39,789,000 after acquiring an additional 85,435 shares during the last quarter. 90.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Mark Wassersug sold 7,898 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $74.19, for a total transaction of $585,952.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total transaction of $9,698,848.30. Following the sale, the chief executive officer now owns 1,454,661 shares in the company, valued at $106,684,837.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 197,144 shares of company stock worth $14,502,143. Company insiders own 1.50% of the company’s stock.
Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $74.53 on Friday. 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 firm has a market cap of $43,241.17, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 2.60 and a beta of 0.65. Intercontinental Exchange Inc has a twelve month low of $57.91 and a twelve month high of $76.30.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.57 EPS for the current year.
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 issued a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 annualized dividend and a yield of 1.29%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 22.64%.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut 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 raised their price objective for the company from $76.00 to $83.00 in a research note on Tuesday, February 20th. Argus reaffirmed a “buy” rating and issued 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 cut their target price on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Berenberg Bank started coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus target price of $76.62.
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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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