Intercontinental Exchange Inc. (ICE) Position Raised by HighTower Advisors LLC
HighTower Advisors LLC lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,997 shares of the financial services provider’s stock after purchasing an additional 10,261 shares during the quarter. HighTower Advisors LLC’s holdings in Intercontinental Exchange were worth $6,550,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Davis & CO. Inc. grew its position in 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 buying an additional 32 shares in the last quarter. Norway Savings Bank increased its stake in Intercontinental Exchange by 16.7% during the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares during the period. Bessemer Group Inc. increased its stake in Intercontinental Exchange by 186.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $128,000. Finally, Guardian Life Insurance Co. of America increased its stake in Intercontinental Exchange by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 89.75% of the company’s stock.
ICE has been the topic of a number of recent analyst reports. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $70.00 in a research report on Thursday, July 13th. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a research note on Monday, June 26th. Barclays PLC assumed coverage on shares of Intercontinental Exchange in a research note on Friday, September 8th. They set an “overweight” rating and a $72.00 price objective on the stock. Finally, BidaskClub cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $68.81.
Intercontinental Exchange Inc. (ICE) traded up 0.22% during mid-day trading on Monday, hitting $68.85. 93,420 shares of the company were exchanged. The company has a 50 day moving average of $65.38 and a 200 day moving average of $62.86. The stock has a market cap of $7.92 billion, a P/E ratio of 25.51 and a beta of 0.74. Intercontinental Exchange Inc. has a 12-month low of $52.27 and a 12-month high of $69.00.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the 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 last year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current fiscal year.
In other news, insider Charles A. Vice sold 15,000 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $66.33, for a total value of $994,950.00. Following the transaction, the insider now owns 384,971 shares of the company’s stock, valued at approximately $25,535,126.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,420 shares of company stock valued at $7,882,176. 1.50% of the stock is currently owned by insiders.
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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