TCW Group Inc. decreased its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,331,836 shares of the financial services provider’s stock after selling 193,114 shares during the quarter. Intercontinental Exchange comprises 1.3% of TCW Group Inc.’s holdings, making the stock its 21st largest holding. TCW Group Inc.’s holdings in Intercontinental Exchange were worth $164,534,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC boosted its position in shares of Intercontinental Exchange by 257.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,172 shares during the period. Hartland & Co. LLC boosted its position in shares of Intercontinental Exchange by 9.8% during the fourth quarter. Hartland & Co. LLC now owns 11,175 shares of the financial services provider’s stock worth $788,000 after buying an additional 1,000 shares during the period. Virtu Financial LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth $484,000. Tower Research Capital LLC TRC boosted its position in shares of Intercontinental Exchange by 2,406.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,291 shares of the financial services provider’s stock worth $1,079,000 after buying an additional 14,681 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in shares of Intercontinental Exchange by 2.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,697,043 shares of the financial services provider’s stock worth $119,743,000 after buying an additional 36,825 shares during the period. 90.42% of the stock is owned by institutional investors.
In related news, insider Dean S. Mathison sold 1,042 shares of Intercontinental Exchange stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total value of $78,973.18. Following the completion of the transaction, the insider now directly owns 12,485 shares in the company, valued at $946,238.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Scott A. Hill sold 14,772 shares of Intercontinental Exchange stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $75.00, for a total value of $1,107,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,910 shares of company stock valued at $3,579,672. 1.50% of the stock is currently owned by company insiders.
Intercontinental Exchange Inc (ICE) opened at $71.73 on Monday. The stock has a market capitalization of $41,767.97, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.53 and a beta of 0.66. Intercontinental Exchange Inc has a fifty-two week low of $56.97 and a fifty-two week high of $76.14. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. Intercontinental Exchange’s revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. research analysts anticipate that Intercontinental Exchange Inc will post 3.54 EPS for the current year.
Intercontinental Exchange announced that its board has authorized a share buyback plan on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.34%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 18.87%.
ICE has been the subject of several research analyst reports. Argus raised their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Berenberg Bank initiated coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target for the company. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, January 3rd. Bank of America lowered their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, Citigroup raised their price target on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus target price of $76.08.
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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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