AlphaMark Advisors LLC reduced its position in Intercontinental Exchange (NYSE:ICE) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,486 shares of the financial services provider’s stock after selling 5,758 shares during the period. Intercontinental Exchange comprises 1.8% of AlphaMark Advisors LLC’s investment portfolio, making the stock its 13th biggest position. AlphaMark Advisors LLC’s holdings in Intercontinental Exchange were worth $4,314,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $109,000. Valeo Financial Advisors LLC increased its stake in Intercontinental Exchange by 257.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,172 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $122,000. Cerebellum GP LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at approximately $127,000. Finally, Bedel Financial Consulting Inc. purchased a new position in Intercontinental Exchange in the 1st quarter valued at approximately $127,000. 90.88% of the stock is owned by hedge funds and other institutional investors.
In other Intercontinental Exchange news, President Benjamin Jackson sold 2,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $72.75, for a total transaction of $181,875.00. Following the sale, the president now owns 64,154 shares in the company, valued at approximately $4,667,203.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark Wassersug sold 7,898 shares of the stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $74.19, for a total value of $585,952.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 262,632 shares of company stock worth $19,090,134. 1.50% of the stock is owned by insiders.
Shares of NYSE:ICE opened at $72.40 on Friday. The firm has a market cap of $41.65 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.96 and a beta of 0.64. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98. Intercontinental Exchange has a one year low of $71.45 and a one year high of $72.16.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 3rd. The financial services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Intercontinental Exchange had a return on equity of 11.14% and a net margin of 41.65%. Intercontinental Exchange’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. equities research analysts forecast that Intercontinental Exchange will post 3.52 earnings per share for the current year.
ICE has been the subject of several research analyst reports. Argus reaffirmed a “buy” rating and issued a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Bank of America dropped their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective for the company. JPMorgan Chase set a $83.00 price objective on Intercontinental Exchange and gave the company a “buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Wednesday, April 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $78.36.
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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