Peapack Gladstone Financial Corp Maintains Holdings in Intercontinental Exchange Inc. (ICE)
Peapack Gladstone Financial Corp maintained its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,780 shares of the financial services provider’s stock at the end of the 2nd quarter. Peapack Gladstone Financial Corp’s holdings in Intercontinental Exchange were worth $249,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of ICE. Thompson Davis & CO. Inc. lifted 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 last quarter. Norway Savings Bank lifted 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 last quarter. Bessemer Group Inc. lifted 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 last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $128,000. Finally, Guardian Life Insurance Co. of America lifted its stake in shares of Intercontinental Exchange by 0.7% in 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 purchasing an additional 16 shares during the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on ICE. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. Royal Bank Of Canada raised Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Wells Fargo & Company raised their price objective on Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.28.
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Shares of Intercontinental Exchange Inc. (ICE) traded down 2.72% during midday trading on Friday, hitting $69.03. The company had a trading volume of 4,333,437 shares. The company has a market capitalization of $7.94 billion, a PE ratio of 25.58 and a beta of 0.74. Intercontinental Exchange Inc. has a 12 month low of $52.27 and a 12 month high of $71.24. The company has a 50-day moving average of $66.47 and a 200-day moving average of $63.59.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.
In related news, insider Charles A. Vice sold 12,500 shares of the company’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 transaction, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold 143,050 shares of company stock worth $9,522,455 over the last quarter. 1.50% of the stock is currently owned by insiders.
About Intercontinental Exchange
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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