Intercontinental Exchange Inc. (ICE) Stake Maintained by Laffer Investments
Laffer Investments maintained its stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,465 shares of the financial services provider’s stock at the end of the 2nd quarter. Laffer Investments’ holdings in Intercontinental Exchange were worth $2,272,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $2,837,000. NBT Bank N A NY purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $245,000. Alerus Financial NA purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $4,256,000. AlphaMark Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% during the 2nd quarter. AlphaMark Advisors LLC now owns 67,255 shares of the financial services provider’s stock valued at $4,433,000 after acquiring an additional 728 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. boosted its holdings in shares of Intercontinental Exchange by 10.7% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 15,525 shares of the financial services provider’s stock valued at $1,023,000 after acquiring an additional 1,500 shares during the last quarter. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
ICE has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Barclays PLC initiated coverage on shares of Intercontinental Exchange in a report on Friday, September 8th. They set an “overweight” rating and a $72.00 price target on the stock. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Thursday, July 13th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Finally, Royal Bank Of Canada set a $65.00 price target on shares of Intercontinental Exchange and gave the company a “hold” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Intercontinental Exchange currently has an average rating of “Buy” and an average price target of $68.81.
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Shares of Intercontinental Exchange Inc. (NYSE:ICE) traded up 1.181% during trading on Tuesday, hitting $66.425. 715,441 shares of the stock traded hands. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 24.611 and a beta of 0.72. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $67.48. The stock has a 50 day moving average of $65.39 and a 200 day moving average of $62.81.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. Intercontinental Exchange’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post $2.94 EPS for the current year.
In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the transaction, the insider now directly owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott A. Hill sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $65.00, for a total value of $1,105,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 137,420 shares of company stock worth $8,987,176. 1.50% of the stock is 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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