Chevy Chase Trust Holdings Inc. Purchases 2,296 Shares of Intercontinental Exchange Inc (ICE)
Chevy Chase Trust Holdings Inc. increased its stake in Intercontinental Exchange Inc (NYSE:ICE) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 595,585 shares of the financial services provider’s stock after purchasing an additional 2,296 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.10% of Intercontinental Exchange worth $40,916,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ICE. Alyeska Investment Group L.P. lifted its holdings in shares of Intercontinental Exchange by 240.6% during the third quarter. Alyeska Investment Group L.P. now owns 598,641 shares of the financial services provider’s stock worth $41,127,000 after buying an additional 422,899 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Intercontinental Exchange by 7.6% during the third quarter. First Republic Investment Management Inc. now owns 104,168 shares of the financial services provider’s stock worth $7,157,000 after buying an additional 7,320 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Intercontinental Exchange by 1.0% during the third quarter. Asset Management One Co. Ltd. now owns 977,497 shares of the financial services provider’s stock worth $67,140,000 after buying an additional 10,061 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Intercontinental Exchange by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 50,950 shares of the financial services provider’s stock worth $3,515,000 after buying an additional 1,000 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Intercontinental Exchange by 10.8% during the third quarter. Synovus Financial Corp now owns 8,922 shares of the financial services provider’s stock worth $613,000 after buying an additional 870 shares during the last quarter. Hedge funds and other institutional investors own 90.83% of the company’s stock.
In related news, CFO Scott A. Hill sold 37,630 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jean Marc Forneri sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total value of $565,440.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,130 shares of company stock worth $5,468,644. 1.50% of the stock is owned by company insiders.
Shares of Intercontinental Exchange Inc (NYSE ICE) traded up $0.54 during mid-day trading on Friday, hitting $70.93. The stock had a trading volume of 1,641,971 shares, compared to its average volume of 2,699,545. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $41,179.99, a PE ratio of 24.11, a PEG ratio of 2.61 and a beta of 0.73. Intercontinental Exchange Inc has a 12 month low of $55.79 and a 12 month high of $72.99.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. equities research analysts forecast that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.
Intercontinental Exchange declared that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
A number of research analysts recently commented on ICE shares. Keefe, Bruyette & Woods restated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research note on Sunday, October 8th. UBS upped their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Jefferies Group restated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $73.30.
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Intercontinental Exchange Company Profile
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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