Teachers Retirement System of The State of Kentucky cut its stake in shares of Intercontinental Exchange (NYSE:ICE) by 4.6% in the 4th quarter, according to 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 period. Teachers Retirement System of The State of Kentucky’s holdings in Intercontinental Exchange were worth $4,380,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $380,000. Macquarie Group Ltd. lifted its position in shares of 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 buying an additional 24,797 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of 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 buying an additional 63,944 shares during the last quarter. AXA increased its stake in shares of Intercontinental Exchange by 6.8% during the third quarter. AXA now owns 255,959 shares of the financial services provider’s stock worth $17,585,000 after purchasing an additional 16,304 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Intercontinental Exchange by 17.9% during the fourth quarter. Bank of Montreal Can now owns 563,903 shares of the financial services provider’s stock worth $39,789,000 after purchasing an additional 85,435 shares during the period. 90.73% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Wednesday, January 3rd. Deutsche Bank increased their target price on Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Berenberg Bank started coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Argus raised 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $77.77.
In related news, 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 of the company’s stock, valued at approximately $106,684,837.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dean S. Mathison sold 1,042 shares of Intercontinental Exchange 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 transaction, the insider now directly owns 12,485 shares in the company, valued at $946,238.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 237,074 shares of company stock worth $17,377,209. 1.50% of the stock is currently owned by company insiders.
Shares of ICE traded down $1.91 during midday trading on Friday, hitting $70.62. The company’s stock had a trading volume of 1,833,224 shares, compared to its average volume of 2,800,344. 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 has a one year low of $57.91 and a one year high of $76.30. The firm has a market cap of $41,121.61, a price-to-earnings ratio of 23.94, a PEG ratio of 2.47 and a beta of 0.64.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $0.71 EPS. Intercontinental Exchange’s revenue for the quarter was up .5% on a year-over-year basis. research analysts forecast that Intercontinental Exchange will post 3.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) is 32.54%.
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Intercontinental Exchange Company 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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