Sit Investment Associates Inc. increased its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.1% in the first quarter, HoldingsChannel reports. The firm owned 31,275 shares of the financial services provider’s stock after buying an additional 350 shares during the quarter. Sit Investment Associates Inc.’s holdings in Intercontinental Exchange were worth $2,381,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ICE. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter worth about $379,351,000. Lazard Asset Management LLC increased its position in Intercontinental Exchange by 63.8% during the 1st quarter. Lazard Asset Management LLC now owns 12,800,711 shares of the financial services provider’s stock worth $974,645,000 after purchasing an additional 4,986,008 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Intercontinental Exchange by 7,340.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,677,692 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 4,614,825 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Intercontinental Exchange by 107.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 4,378,312 shares of the financial services provider’s stock worth $333,365,000 after purchasing an additional 2,264,702 shares in the last quarter. Finally, Millennium Management LLC increased its position in Intercontinental Exchange by 153.4% during the 4th quarter. Millennium Management LLC now owns 3,674,867 shares of the financial services provider’s stock worth $276,828,000 after purchasing an additional 2,224,434 shares in the last quarter. Hedge funds and other institutional investors own 89.12% of the company’s stock.
ICE opened at $84.93 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $47.89 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 2.75 and a beta of 0.48. Intercontinental Exchange Inc has a 12 month low of $69.69 and a 12 month high of $86.78.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.98%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc will post 3.75 EPS for the current fiscal year.
A number of analysts recently commented on the company. ValuEngine upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Wells Fargo & Co lifted their price objective on Intercontinental Exchange from $79.00 to $81.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Bank of America set a $85.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Finally, Deutsche Bank dropped their price objective on Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.55.
In other Intercontinental Exchange news, CFO Scott A. Hill sold 26,933 shares of Intercontinental Exchange stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $73.32, for a total value of $1,974,727.56. Following the completion of the sale, the chief financial officer now owns 188,688 shares in the company, valued at approximately $13,834,604.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vincent Tese sold 2,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $81.87, for a total value of $163,740.00. Following the completion of the sale, the director now owns 35,004 shares of the company’s stock, valued at approximately $2,865,777.48. The disclosure for this sale can be found here. Insiders sold a total of 186,712 shares of company stock valued at $14,843,289 in the last 90 days. 1.50% of the stock is owned by company insiders.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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