Clinton Group Inc. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,616 shares of the financial services provider’s stock, valued at approximately $502,000.
Several other large investors also recently bought and sold shares of ICE. BlackRock Inc. grew its stake in shares of Intercontinental Exchange by 2,943.4% during the 1st quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after purchasing an additional 33,898,484 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Intercontinental Exchange by 340.8% during the 1st quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock worth $337,737,000 after purchasing an additional 4,361,480 shares during the period. Northern Trust Corp grew its stake in shares of Intercontinental Exchange by 19.9% during the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after purchasing an additional 1,883,432 shares during the period. BT Investment Management Ltd acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $97,240,000. Finally, FMR LLC grew its stake in shares of Intercontinental Exchange by 19.3% during the 1st quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after purchasing an additional 1,443,992 shares during the period. 89.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the transaction, the insider now owns 382,471 shares of the company’s stock, valued at approximately $25,598,784.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold a total of 143,050 shares of company stock worth $9,522,455 in the last three months. 1.50% of the stock is currently owned by company insiders.
A number of equities analysts have recently weighed in on ICE shares. BidaskClub raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Intercontinental Exchange in a research note on Monday, June 26th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $70.00 in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Thursday, July 13th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $69.28.
Intercontinental Exchange Inc. (NYSE ICE) opened at 69.03 on Friday. The firm has a 50-day moving average of $66.47 and a 200-day moving average of $63.59. Intercontinental Exchange Inc. has a 12-month low of $52.27 and a 12-month high of $71.24. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 25.58 and a beta of 0.74.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. Intercontinental Exchange’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.
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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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