Palisade Capital Management LLC NJ Grows Position in Intercontinental Exchange Inc (NYSE:ICE)

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Palisade Capital Management LLC NJ lifted its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,539 shares of the financial services provider’s stock after purchasing an additional 5,121 shares during the quarter. Palisade Capital Management LLC NJ’s holdings in Intercontinental Exchange were worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Twin Capital Management Inc. grew its holdings in shares of Intercontinental Exchange by 1.0% during the 1st quarter. Twin Capital Management Inc. now owns 72,660 shares of the financial services provider’s stock worth $5,269,000 after purchasing an additional 710 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of Intercontinental Exchange by 8.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 9,142 shares of the financial services provider’s stock worth $663,000 after purchasing an additional 722 shares during the period. Marcus Capital LLC grew its holdings in shares of Intercontinental Exchange by 4.6% during the 1st quarter. Marcus Capital LLC now owns 16,950 shares of the financial services provider’s stock worth $1,229,000 after purchasing an additional 750 shares during the period. HighPoint Advisor Group LLC grew its holdings in shares of Intercontinental Exchange by 24.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,884 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 767 shares during the period. Finally, Global X Management Co. LLC grew its holdings in shares of Intercontinental Exchange by 5.9% during the 1st quarter. Global X Management Co. LLC now owns 13,859 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 89.03% of the company’s stock.

ICE stock traded down $0.33 during mid-day trading on Wednesday, reaching $74.87. The company had a trading volume of 1,841,941 shares, compared to its average volume of 2,704,852. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $43.63 billion, a P/E ratio of 25.38, a P/E/G ratio of 2.05 and a beta of 0.62. Intercontinental Exchange Inc has a fifty-two week low of $63.22 and a fifty-two week high of $76.69.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. Intercontinental Exchange had a return on equity of 11.14% and a net margin of 41.65%. Intercontinental Exchange’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 EPS. analysts expect that Intercontinental Exchange Inc will post 3.52 EPS for the current year.

In other news, President Benjamin Jackson sold 3,045 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $74.17, for a total transaction of $225,847.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Jefferson Hague sold 1,010 shares of the firm’s stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $71.14, for a total value of $71,851.40. The disclosure for this sale can be found here. Insiders have sold a total of 284,059 shares of company stock worth $20,403,754 in the last three months. Corporate insiders own 1.50% of the company’s stock.

Several research firms recently issued reports on ICE. Deutsche Bank increased their target price on Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, April 6th. ValuEngine raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday. Sanford C. Bernstein began coverage on Intercontinental Exchange in a research note on Monday, April 9th. They set an “outperform” rating and a $85.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $83.00 target price on Intercontinental Exchange and gave the stock a “buy” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $78.36.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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