IBM Retirement Fund Decreases Holdings in Intercontinental Exchange Inc (ICE)

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IBM Retirement Fund decreased its position in Intercontinental Exchange Inc (NYSE:ICE) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,988 shares of the financial services provider’s stock after selling 1,701 shares during the quarter. IBM Retirement Fund’s holdings in Intercontinental Exchange were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Global X Management Co. LLC raised its holdings in Intercontinental Exchange by 5.9% in the first 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 in the last quarter. Dupont Capital Management Corp raised its holdings in Intercontinental Exchange by 35.3% in the first quarter. Dupont Capital Management Corp now owns 4,216 shares of the financial services provider’s stock worth $306,000 after purchasing an additional 1,101 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Intercontinental Exchange by 134.1% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 9,425 shares of the financial services provider’s stock worth $684,000 after purchasing an additional 5,399 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in Intercontinental Exchange by 8.6% in the first 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 in the last quarter. Finally, Quantitative Systematic Strategies LLC raised its holdings in Intercontinental Exchange by 70.5% in the first quarter. Quantitative Systematic Strategies LLC now owns 10,125 shares of the financial services provider’s stock worth $734,000 after purchasing an additional 4,185 shares in the last quarter. Institutional investors and hedge funds own 88.55% of the company’s stock.

Shares of NYSE:ICE opened at $77.38 on Friday. Intercontinental Exchange Inc has a 1-year low of $63.93 and a 1-year high of $77.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $43.99 billion, a PE ratio of 26.23, a P/E/G ratio of 2.24 and a beta of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a return on equity of 11.45% and a net margin of 41.83%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the company earned $0.75 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. sell-side analysts predict that Intercontinental Exchange Inc will post 3.48 EPS for the current fiscal year.

In related news, President Benjamin Jackson sold 3,395 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $74.07, for a total transaction of $251,467.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James W. Namkung sold 2,300 shares of the stock in a transaction on Monday, July 9th. The shares were sold at an average price of $73.38, for a total value of $168,774.00. The disclosure for this sale can be found here. Insiders have sold 169,593 shares of company stock valued at $12,424,066 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

A number of equities analysts have issued reports on ICE shares. Rosenblatt Securities started coverage on Intercontinental Exchange in a report on Wednesday. They issued a “buy” rating and a $88.00 price objective for the company. FIX started coverage on Intercontinental Exchange in a report on Wednesday. They issued a “buy” rating and a $88.00 price objective for the company. Compass Point started coverage on Intercontinental Exchange in a report on Friday, June 22nd. They set a “buy” rating and a $85.00 price target for the company. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, July 4th. Finally, ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Saturday, June 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $81.44.

Intercontinental Exchange 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.

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

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