Baird Financial Group Inc. lifted its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 11.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,129 shares of the financial services provider’s stock after purchasing an additional 13,229 shares during the quarter. Baird Financial Group Inc.’s holdings in Intercontinental Exchange were worth $9,644,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kaizen Advisory LLC boosted its holdings in Intercontinental Exchange by 143.4% in the second quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 799 shares during the period. Quad Cities Investment Group LLC bought a new stake in Intercontinental Exchange in the second quarter valued at $104,000. Sun Life Financial INC lifted its stake in Intercontinental Exchange by 717.7% in the second quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,378 shares during the last quarter. Townsend & Associates Inc lifted its stake in Intercontinental Exchange by 894.0% in the second quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,484 shares during the last quarter. Finally, Institutional & Family Asset Management LLC bought a new stake in Intercontinental Exchange in the first quarter valued at $128,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on ICE. Citigroup boosted their price target on shares of Intercontinental Exchange from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 18th. FIX initiated coverage on Intercontinental Exchange in a research note on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price target on the stock. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, June 12th. Barclays lifted their price target on Intercontinental Exchange from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $80.00 target price (up from $74.00) on shares of Intercontinental Exchange in a report on Monday, July 9th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $81.44.
Shares of ICE stock traded up $0.61 during trading hours on Friday, hitting $77.97. 1,352,338 shares of the company’s stock were exchanged, compared to its average volume of 2,333,381. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $43.77 billion, a PE ratio of 23.49, a PEG ratio of 2.23 and a beta of 0.64. Intercontinental Exchange Inc has a 52 week low of $64.91 and a 52 week high of $78.48.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a return on equity of 11.45% and a net margin of 41.83%. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. analysts forecast that Intercontinental Exchange Inc will post 3.48 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, insider David S. Goone sold 10,402 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $78.01, for a total value of $811,460.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total value of $5,862,400.00. The disclosure for this sale can be found here. Insiders sold 288,259 shares of company stock worth $21,554,161 in the last three months. Insiders own 1.50% of the company’s stock.
Intercontinental Exchange Company 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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