Ardevora Asset Management LLP cut its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465,003 shares of the financial services provider’s stock after selling 12,500 shares during the period. Ardevora Asset Management LLP owned 0.08% of Intercontinental Exchange worth $34,824,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Kaizen Advisory LLC grew its stake in shares of Intercontinental Exchange by 143.4% during the second quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock worth $100,000 after buying an additional 799 shares during the last quarter. Quad Cities Investment Group LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth $104,000. Sun Life Financial INC lifted its holdings in shares of Intercontinental Exchange by 717.7% during the second quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,378 shares during the period. Townsend & Associates Inc lifted its holdings in shares of Intercontinental Exchange by 894.0% during the second quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,484 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth $130,000. 88.92% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Wells Fargo & Co upped their price objective on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Deutsche Bank boosted their target price on shares of Intercontinental Exchange from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. FIX began coverage on shares of Intercontinental Exchange in a research report on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price for the company. Finally, ValuEngine downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $84.50.
In related news, General Counsel Andrew J. Surdykowski sold 1,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Johnathan H. Short sold 6,000 shares of the stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $77.05, for a total transaction of $462,300.00. Following the transaction, the general counsel now directly owns 47,991 shares in the company, valued at approximately $3,697,706.55. The disclosure for this sale can be found here. Insiders sold a total of 220,625 shares of company stock worth $16,971,970 in the last three months. Insiders own 1.50% of the company’s stock.
Shares of ICE stock traded down $0.59 during trading on Thursday, reaching $79.33. 2,861,089 shares of the company’s stock traded hands, compared to its average volume of 3,723,125. Intercontinental Exchange Inc has a 1 year low of $66.92 and a 1 year high of $81.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $45.52 billion, a P/E ratio of 26.89, a PEG ratio of 2.31 and a beta of 0.53.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange Inc will post 3.52 EPS for the current year.
Intercontinental Exchange announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 31st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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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