DekaBank Deutsche Girozentrale Grows Holdings in Intercontinental Exchange Inc. (ICE)
DekaBank Deutsche Girozentrale raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 305,727 shares of the financial services provider’s stock after buying an additional 1,603 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.05% of Intercontinental Exchange worth $20,347,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in ICE. Janus Henderson Group PLC increased its stake in Intercontinental Exchange by 1,254.2% in the 2nd quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock valued at $596,480,000 after buying an additional 8,380,362 shares during the period. Northern Trust Corp increased its stake in Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after buying an additional 1,883,432 shares during the period. Prudential PLC increased its stake in Intercontinental Exchange by 39,517.6% in the 2nd quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after buying an additional 1,477,562 shares during the period. BT Investment Management Ltd acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $97,240,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $69,836,000. Hedge funds and other institutional investors own 90.21% of the company’s stock.
In related news, CEO Jeffrey C. Sprecher sold 80,420 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $64.32, for a total transaction of $804,000.00. Following the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at $24,600,534.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 155,550 shares of company stock valued at $10,414,330. 1.50% of the stock is owned by insiders.
ICE has been the topic of several research reports. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. UBS AG upped their price objective on shares of 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 LLC restated a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.30.
Intercontinental Exchange Inc. (NYSE ICE) traded up $0.22 during midday trading on Wednesday, hitting $67.30. 1,701,600 shares of the company traded hands, compared to its average volume of 2,653,486. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $39,243.56, a P/E ratio of 22.97, a P/E/G ratio of 2.48 and a beta of 0.71. Intercontinental Exchange Inc. has a fifty-two week low of $53.91 and a fifty-two week high of $71.24.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. Intercontinental Exchange’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. sell-side analysts anticipate that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
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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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