NN Investment Partners Holdings N.V. boosted its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 83,864 shares of the financial services provider’s stock after purchasing an additional 3,439 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Intercontinental Exchange were worth $6,281,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Millennium Management LLC lifted its position in shares of Intercontinental Exchange by 3,708.6% in the second quarter. Millennium Management LLC now owns 2,055,613 shares of the financial services provider’s stock valued at $151,190,000 after acquiring an additional 2,112,577 shares in the last quarter. Swedbank purchased a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $106,185,000. Senator Investment Group LP lifted its position in shares of Intercontinental Exchange by 140.0% in the second quarter. Senator Investment Group LP now owns 2,400,000 shares of the financial services provider’s stock valued at $176,520,000 after acquiring an additional 1,400,000 shares in the last quarter. Unigestion Holding SA purchased a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $92,852,000. Finally, Glenmede Trust Co. NA lifted its position in shares of Intercontinental Exchange by 11,080.3% in the second quarter. Glenmede Trust Co. NA now owns 1,101,033 shares of the financial services provider’s stock valued at $80,982,000 after acquiring an additional 1,091,185 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.
NYSE:ICE opened at $76.91 on Friday. Intercontinental Exchange Inc has a one year low of $65.28 and a one year high of $78.48. The company has a quick ratio of 0.98, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $44.18 billion, a P/E ratio of 22.79, a P/E/G ratio of 2.26 and a beta of 0.52.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Intercontinental Exchange Inc will post 3.48 earnings per share for the current year.
Intercontinental Exchange announced that its board has initiated a stock repurchase program on Wednesday, October 31st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several research firms have recently weighed in on ICE. Wells Fargo & Co restated a “market perform” rating and issued a $80.00 target price (up previously from $74.00) on shares of Intercontinental Exchange in a research report on Monday, July 9th. Raymond James raised their target price on Intercontinental Exchange from $81.00 to $86.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Citigroup set a $80.00 price target on Intercontinental Exchange and gave the company a “hold” rating in a report on Thursday. Finally, Barclays increased their price target on Intercontinental Exchange from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average target price of $83.80.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $72.59, for a total transaction of $2,540,650.00. Following the completion of the sale, the insider now owns 419,907 shares of the company’s stock, valued at $30,481,049.13. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott A. Hill sold 70,659 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $76.56, for a total value of $5,409,653.04. Following the sale, the chief financial officer now directly owns 231,782 shares of the company’s stock, valued at approximately $17,745,229.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,819 shares of company stock valued at $21,703,215. Insiders own 1.50% of the company’s stock.
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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