Dimensional Fund Advisors LP Has $109.89 Million Stake in Intercontinental Exchange Inc (ICE)
Dimensional Fund Advisors LP decreased its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,467,410 shares of the financial services provider’s stock after selling 50,260 shares during the period. Dimensional Fund Advisors LP owned 0.26% of Intercontinental Exchange worth $109,894,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 12,202,306 shares of the financial services provider’s stock valued at $913,835,000 after acquiring an additional 666,185 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in Intercontinental Exchange by 17.1% during the 2nd quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock valued at $510,306,000 after purchasing an additional 1,011,626 shares during the period. Standard Life Aberdeen plc boosted its stake in Intercontinental Exchange by 3.5% during the 2nd quarter. Standard Life Aberdeen plc now owns 5,475,090 shares of the financial services provider’s stock valued at $402,774,000 after purchasing an additional 183,310 shares during the period. Winslow Capital Management LLC boosted its stake in Intercontinental Exchange by 13.5% during the 2nd quarter. Winslow Capital Management LLC now owns 4,387,413 shares of the financial services provider’s stock valued at $322,695,000 after purchasing an additional 523,313 shares during the period. Finally, Senator Investment Group LP boosted its stake in Intercontinental Exchange by 140.0% during the 2nd quarter. Senator Investment Group LP now owns 2,400,000 shares of the financial services provider’s stock valued at $176,520,000 after purchasing an additional 1,400,000 shares during the period. 89.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of ICE stock opened at $78.55 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. Intercontinental Exchange Inc has a 12 month low of $66.92 and a 12 month high of $82.65. The company has a market capitalization of $44.74 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 2.25 and a beta of 0.50.
Intercontinental Exchange declared that its board has approved a stock buyback program on Wednesday, October 31st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts recently weighed in on the company. Raymond James increased their target price on Intercontinental Exchange from $81.00 to $86.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. Citigroup set a $80.00 target price on Intercontinental Exchange and gave the company a “hold” rating in a research note on Thursday, November 1st. Rosenblatt Securities assumed coverage on Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price for the company. Finally, Berenberg Bank downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 target price for the company. in a research note on Tuesday, November 20th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Intercontinental Exchange has an average rating of “Buy” and an average price target of $84.50.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $79.75, for a total value of $2,791,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Hill sold 403 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $80.00, for a total value of $32,240.00. Following the completion of the sale, the chief financial officer now owns 161,526 shares of the company’s stock, valued at approximately $12,922,080. The disclosure for this sale can be found here. Insiders sold a total of 134,764 shares of company stock valued at $10,477,825 in the last quarter. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange 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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