Jennison Associates LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 11.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,120,714 shares of the financial services provider’s stock after selling 139,564 shares during the quarter. Jennison Associates LLC owned approximately 0.19% of Intercontinental Exchange worth $76,993,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its holdings in Intercontinental Exchange by 10.8% during the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 18 shares during the period. Thompson Davis & CO. Inc. lifted its holdings in Intercontinental Exchange by 2.2% during the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 32 shares during the period. Norway Savings Bank lifted its holdings in Intercontinental Exchange by 16.7% during the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 235 shares during the period. Bessemer Group Inc. lifted its holdings in Intercontinental Exchange by 186.5% during the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,240 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in Intercontinental Exchange during the second quarter worth $128,000. Institutional investors own 90.21% of the company’s stock.
A number of analysts have issued reports on the company. Barclays PLC raised their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Citigroup Inc. raised their target price on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Royal Bank Of Canada raised their target price on Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, October 16th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.30.
In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the completion of the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at approximately $24,600,534.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,550 shares of company stock valued at $10,414,330. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange Inc. (ICE) traded up $0.07 during trading on Monday, reaching $66.27. The company had a trading volume of 1,621,700 shares, compared to its average volume of 2,656,807. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $53.91 and a twelve month high of $71.24. The stock has a market capitalization of $38,769.68, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.45 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. equities research analysts predict that Intercontinental Exchange Inc. will post 2.95 EPS for the current year.
Intercontinental Exchange announced that its board has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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About Intercontinental Exchange
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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