Westfield Capital Management Co. LP lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 19.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,475,206 shares of the financial services provider’s stock after acquiring an additional 237,911 shares during the period. Westfield Capital Management Co. LP owned 0.25% of Intercontinental Exchange worth $97,246,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurion Capital Management LP boosted its stake in shares of Intercontinental Exchange by 100.0% in the second quarter. Laurion Capital Management LP now owns 15,800 shares of the financial services provider’s stock worth $1,042,000 after acquiring an additional 7,900 shares during the period. BT Investment Management Ltd bought a new position in shares of Intercontinental Exchange in the second quarter worth about $97,240,000. Amalgamated Bank boosted its stake in shares of Intercontinental Exchange by 56.9% in the second quarter. Amalgamated Bank now owns 67,484 shares of the financial services provider’s stock worth $4,449,000 after acquiring an additional 24,470 shares during the period. BlackRock Inc. boosted its stake in shares of Intercontinental Exchange by 1.1% in the second quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock worth $2,336,613,000 after acquiring an additional 396,042 shares during the period. Finally, Findlay Park Partners LLP boosted its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Findlay Park Partners LLP now owns 2,170,320 shares of the financial services provider’s stock worth $143,067,000 after acquiring an additional 50,000 shares during the period. 89.74% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at approximately $25,598,784.03. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott A. Hill sold 17,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $65.00, for a total value of $1,105,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 137,420 shares of company stock valued at $8,987,176. 1.50% of the stock is owned by company insiders.
ICE has been the subject of a number of recent analyst reports. Citigroup Inc. initiated coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Intercontinental Exchange in a research note on Monday, June 26th. Barclays PLC initiated coverage on Intercontinental Exchange in a research note on Friday, September 8th. They issued an “overweight” rating and a $72.00 price objective for the company. Royal Bank Of Canada set a $65.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Finally, BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $68.81.
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Shares of Intercontinental Exchange Inc. (ICE) traded down 1.21% during trading on Friday, reaching $65.38. The company had a trading volume of 3,528,876 shares. The stock’s 50-day moving average price is $65.41 and its 200-day moving average price is $62.69. Intercontinental Exchange Inc. has a 52 week low of $52.27 and a 52 week high of $67.48. The company has a market capitalization of $7.52 billion, a PE ratio of 24.22 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Intercontinental Exchange Inc. will post $2.94 EPS for the current fiscal year.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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