Millennium Management LLC boosted its stake in shares of Intercontinental Exchange (NYSE:ICE) by 54.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,351 shares of the financial services provider’s stock after buying an additional 570,492 shares during the quarter. Millennium Management LLC owned approximately 0.28% of Intercontinental Exchange worth $113,838,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Raymond James Financial Services Advisors Inc. lifted its holdings in Intercontinental Exchange by 9.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 238,347 shares of the financial services provider’s stock valued at $16,374,000 after buying an additional 20,551 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Intercontinental Exchange by 99.1% during the 3rd quarter. Bessemer Group Inc. now owns 3,793 shares of the financial services provider’s stock valued at $260,000 after buying an additional 1,888 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in Intercontinental Exchange by 7.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 42,325 shares of the financial services provider’s stock valued at $2,908,000 after buying an additional 3,107 shares in the last quarter. Global X MANAGEMENT CO LLC lifted its holdings in Intercontinental Exchange by 7.4% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 12,234 shares of the financial services provider’s stock valued at $840,000 after buying an additional 841 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Intercontinental Exchange by 17.0% during the 3rd quarter. New York State Common Retirement Fund now owns 1,788,081 shares of the financial services provider’s stock valued at $122,841,000 after buying an additional 259,580 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.
NYSE:ICE opened at $70.62 on Friday. Intercontinental Exchange has a one year low of $57.91 and a one year high of $76.30. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $42,152.28, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.53 and a beta of 0.64.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (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 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 firm earned $0.71 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. research analysts forecast that Intercontinental Exchange will post 3.58 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is currently 32.54%.
In other news, insider Thomas W. Farley sold 18,046 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $73.97, for a total value of $1,334,862.62. Following the transaction, the insider now owns 86,293 shares of the company’s stock, valued at approximately $6,383,093.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of Intercontinental Exchange stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,454,661 shares in the company, valued at approximately $106,684,837.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,074 shares of company stock worth $17,377,209. Insiders own 1.50% of the company’s stock.
A number of equities research analysts recently weighed in on ICE shares. Argus lifted their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, January 3rd. Berenberg Bank began coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They set a “buy” rating and a $90.00 price objective for the company. Bank of America reduced their price target on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, JPMorgan Chase upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $76.00 to $83.00 in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $77.77.
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Intercontinental Exchange Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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