Intercontinental Exchange Inc (ICE) Stake Lifted by Financial Enhancement Group LLC
Financial Enhancement Group LLC grew its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,151 shares of the financial services provider’s stock after purchasing an additional 4,208 shares during the quarter. Intercontinental Exchange comprises about 2.3% of Financial Enhancement Group LLC’s portfolio, making the stock its 15th biggest position. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $6,704,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in ICE. Alerus Financial NA raised its stake in Intercontinental Exchange by 11.1% during the 2nd quarter. Alerus Financial NA now owns 72,514 shares of the financial services provider’s stock worth $5,333,000 after buying an additional 7,246 shares during the period. US Bancorp DE raised its stake in Intercontinental Exchange by 9.0% during the 2nd quarter. US Bancorp DE now owns 73,869 shares of the financial services provider’s stock worth $5,433,000 after buying an additional 6,076 shares during the period. Marietta Wealth Management LLC raised its stake in Intercontinental Exchange by 3.1% during the 2nd quarter. Marietta Wealth Management LLC now owns 44,438 shares of the financial services provider’s stock worth $3,268,000 after buying an additional 1,325 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $12,690,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Intercontinental Exchange by 3.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,111,514 shares of the financial services provider’s stock worth $155,302,000 after buying an additional 76,451 shares during the period. 90.25% of the stock is currently owned by institutional investors.
ICE has been the topic of a number of research reports. JPMorgan Chase & Co. set a $83.00 price target on Intercontinental Exchange and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, June 12th. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Compass Point initiated coverage on Intercontinental Exchange in a research note on Friday, June 22nd. They set a “buy” rating and a $85.00 price target on the stock. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $80.00 price target (up from $74.00) on shares of Intercontinental Exchange in a research note on Monday, July 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $80.00.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.24 billion. Intercontinental Exchange had a return on equity of 11.45% and a net margin of 41.83%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. analysts expect that Intercontinental Exchange Inc will post 3.48 EPS for the current year.
In other news, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $75.65, for a total value of $2,647,750.00. Following the completion of the transaction, the insider now directly owns 417,507 shares of the company’s stock, valued at $31,584,404.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,010 shares of the company’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $71.14, for a total value of $71,851.40. The disclosure for this sale can be found here. Insiders have sold a total of 263,811 shares of company stock valued at $19,090,871 over the last three months. Corporate insiders own 1.50% of the company’s stock.
About Intercontinental Exchange
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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