Signition LP lessened its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 76.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,782 shares of the financial services provider’s stock after selling 12,139 shares during the quarter. Signition LP’s holdings in Intercontinental Exchange were worth $283,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in shares of Intercontinental Exchange by 5.7% in the 2nd quarter. Janus Henderson Group PLC now owns 11,536,121 shares of the financial services provider’s stock valued at $848,486,000 after buying an additional 619,979 shares in the last quarter. OppenheimerFunds Inc. grew its stake in shares of Intercontinental Exchange by 17.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock valued at $510,306,000 after buying an additional 1,011,626 shares in the last quarter. Standard Life Aberdeen plc grew its stake in shares of Intercontinental Exchange by 3.5% in the 2nd quarter. Standard Life Aberdeen plc now owns 5,475,090 shares of the financial services provider’s stock valued at $402,774,000 after buying an additional 183,310 shares in the last quarter. Fred Alger Management Inc. grew its stake in shares of Intercontinental Exchange by 10.5% in the 2nd quarter. Fred Alger Management Inc. now owns 4,667,461 shares of the financial services provider’s stock valued at $343,292,000 after buying an additional 442,680 shares in the last quarter. Finally, Winslow Capital Management LLC grew its stake in shares of Intercontinental Exchange by 13.5% in the 2nd quarter. Winslow Capital Management LLC now owns 4,387,413 shares of the financial services provider’s stock valued at $322,695,000 after buying an additional 523,313 shares in the last quarter. 88.99% of the stock is currently owned by institutional investors.
Shares of ICE stock opened at $76.91 on Monday. Intercontinental Exchange Inc has a 12 month low of $65.28 and a 12 month high of $78.48. The company has a market cap of $43.81 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 2.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc will post 3.5 earnings per share for the current fiscal year.
Intercontinental Exchange declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 31st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
Several equities research analysts recently commented on ICE shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $91.00 price target on shares of Intercontinental Exchange in a research note on Friday, October 12th. They noted that the move was a valuation call. FIX initiated coverage on Intercontinental Exchange in a research report on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price for the company. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Rosenblatt Securities initiated coverage on Intercontinental Exchange in a research report on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price for the company. Finally, Berenberg Bank set a $92.00 target price on Intercontinental Exchange and gave the stock a “buy” rating in a research report on Thursday, September 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $84.07.
In other news, CEO Jeffrey C. Sprecher sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total transaction of $5,862,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Johnathan H. Short sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $75.73, for a total value of $454,380.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,819 shares of company stock valued at $19,162,565. Corporate insiders own 1.50% of the company’s stock.
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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