Mawer Investment Management Ltd. increased its position in Intercontinental Exchange Inc (NYSE:ICE) by 103.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 289,000 shares of the financial services provider’s stock after buying an additional 146,820 shares during the period. Mawer Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $19,854,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Alerus Financial NA purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $4,256,000. Macquarie Group Ltd. raised its position in shares of Intercontinental Exchange by 0.9% during the 3rd quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock valued at $200,298,000 after buying an additional 24,797 shares in the last quarter. NBT Bank N A NY purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $245,000. State of Tennessee Treasury Department raised its position in shares of Intercontinental Exchange by 32.8% during the 2nd quarter. State of Tennessee Treasury Department now owns 216,187 shares of the financial services provider’s stock valued at $14,251,000 after buying an additional 53,449 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its position in shares of Intercontinental Exchange by 7.2% during the 2nd quarter. Oak Ridge Investments LLC now owns 250,107 shares of the financial services provider’s stock valued at $16,487,000 after buying an additional 16,704 shares in the last quarter. 90.83% of the stock is owned by institutional investors.
A number of research firms recently weighed in on ICE. Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Barclays began coverage on shares of Intercontinental Exchange in a research report on Friday, September 8th. They issued an “overweight” rating and a $72.00 price objective on the stock. Jefferies Group reissued a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Citigroup increased their price objective on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $73.30.
In other news, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $71.93, for a total transaction of $539,475.00. Following the transaction, the insider now directly owns 377,471 shares in the company, valued at $27,151,489.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Scott A. Hill sold 37,630 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,130 shares of company stock worth $4,903,204. Insiders own 1.50% of the company’s stock.
Intercontinental Exchange Inc (NYSE ICE) opened at $70.39 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $41,507.61, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.73. Intercontinental Exchange Inc has a one year low of $55.79 and a one year high of $72.99.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $0.64 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. sell-side analysts anticipate that Intercontinental Exchange Inc will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Intercontinental Exchange 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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