Intercontinental Exchange Inc. (ICE) is New Mountain Vantage Advisers L.L.C.’s 4th Largest Position
New Mountain Vantage Advisers L.L.C. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 769,390 shares of the financial services provider’s stock after purchasing an additional 3,424 shares during the quarter. Intercontinental Exchange accounts for approximately 3.7% of New Mountain Vantage Advisers L.L.C.’s holdings, making the stock its 4th largest holding. New Mountain Vantage Advisers L.L.C. owned 0.13% of Intercontinental Exchange worth $50,718,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. raised its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 32 shares during the period. Norway Savings Bank raised its stake in shares of Intercontinental Exchange by 16.7% in the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. raised its stake in shares of Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,240 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $128,000. Finally, First Personal Financial Services raised its stake in shares of Intercontinental Exchange by 20.4% in the 2nd quarter. First Personal Financial Services now owns 2,122 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 360 shares during the period. 89.75% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Scott A. Hill sold 37,630 shares of the company’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. 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 90 days. 1.50% of the stock is currently owned by company insiders.
Several analysts have issued reports on ICE shares. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 price target on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Zacks Investment Research raised 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. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Wells Fargo & Company lifted their price target on Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and a consensus price target of $69.28.
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Shares of Intercontinental Exchange Inc. (ICE) traded down 2.44% during trading on Friday, hitting $69.23. The stock had a trading volume of 1,953,035 shares. The firm has a 50-day moving average of $66.36 and a 200 day moving average of $63.53. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $71.24. The company has a market capitalization of $7.96 billion, a P/E ratio of 25.65 and a beta of 0.74.
Intercontinental Exchange (NYSE:ICE) last posted its 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. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.
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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