Wetherby Asset Management Inc. Buys 369 Shares of Intercontinental Exchange Inc. (ICE)
Wetherby Asset Management Inc. increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 8,111 shares of the financial services provider’s stock after buying an additional 369 shares during the period. Wetherby Asset Management Inc.’s holdings in Intercontinental Exchange were worth $535,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Intercontinental Exchange by 0.6% in the second quarter. Canada Pension Plan Investment Board now owns 793,300 shares of the financial services provider’s stock valued at $52,294,000 after buying an additional 4,600 shares during the last quarter. Morse Asset Management Inc raised its position in Intercontinental Exchange by 11.1% in the second quarter. Morse Asset Management Inc now owns 74,525 shares of the financial services provider’s stock valued at $4,913,000 after buying an additional 7,450 shares during the period. Arrow Financial Corp raised its position in Intercontinental Exchange by 9.7% in the second quarter. Arrow Financial Corp now owns 44,774 shares of the financial services provider’s stock valued at $2,951,000 after buying an additional 3,951 shares during the period. Summit Financial Group Inc. acquired a new position in Intercontinental Exchange during the second quarter valued at $703,000. Finally, Shine Investment Advisory Services Inc. acquired a new position in Intercontinental Exchange during the second quarter valued at $128,000. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intercontinental Exchange Inc. (ICE) opened at 65.01 on Friday. Intercontinental Exchange Inc. has a 12 month low of $52.27 and a 12 month high of $67.48. The company has a 50-day moving average price of $65.81 and a 200-day moving average price of $61.47. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 24.09 and a beta of 0.71.
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. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. Intercontinental Exchange’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.
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Several research analysts have recently weighed in on ICE shares. Royal Bank Of Canada set a $61.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a research report on Thursday, April 20th. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Citigroup Inc. started coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, 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 report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $68.36.
In other news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the completion of the sale, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 73,374 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.91, for a total transaction of $4,395,836.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,389 shares of company stock valued at $10,279,500. 1.50% of the stock is currently owned by company 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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