First Commonwealth Financial Corp PA decreased its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 33.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,795 shares of the financial services provider’s stock after selling 2,410 shares during the period. First Commonwealth Financial Corp PA’s holdings in Intercontinental Exchange were worth $339,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ICE. New York State Common Retirement Fund raised its position in shares of Intercontinental Exchange by 17.0% during the 3rd quarter. New York State Common Retirement Fund now owns 1,788,081 shares of the financial services provider’s stock valued at $122,841,000 after acquiring an additional 259,580 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Intercontinental Exchange by 10.5% during the 3rd quarter. Pacer Advisors Inc. now owns 13,941 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 1,326 shares during the last quarter. Geneva Partners LLC bought a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $206,000. Harbour Capital Advisors LLC raised its position in shares of Intercontinental Exchange by 14.7% during the 3rd quarter. Harbour Capital Advisors LLC now owns 13,060 shares of the financial services provider’s stock valued at $897,000 after acquiring an additional 1,675 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 103.3% in the 3rd quarter. Mawer Investment Management Ltd. now owns 289,000 shares of the financial services provider’s stock valued at $19,854,000 after buying an additional 146,820 shares in the last quarter. Institutional investors own 90.73% of the company’s stock.
A number of analysts recently commented on ICE shares. Argus upped their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, January 3rd. Berenberg Bank started coverage on shares of Intercontinental Exchange in a research report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective for the company. Bank of America lowered their price objective on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.62.
ICE stock opened at $74.41 on Wednesday. The firm has a market cap of $43,124.71, a price-to-earnings ratio of 25.19, a P/E/G ratio of 2.59 and a beta of 0.65. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange Inc has a one year low of $57.91 and a one year high of $76.30.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. analysts predict that Intercontinental Exchange Inc will post 3.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is presently 22.64%.
In related news, insider Dean S. Mathison sold 2,570 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total value of $179,308.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $72.55, for a total transaction of $544,125.00. Following the completion of the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at $27,385,521.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,144 shares of company stock valued at $14,502,143. Company insiders own 1.50% of the company’s stock.
WARNING: This piece was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://ledgergazette.com/2018/03/21/first-commonwealth-financial-corp-pa-sells-2410-shares-of-intercontinental-exchange-inc-ice.html.
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.
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.