LGT Capital Partners LTD. cut its stake in Intercontinental Exchange Inc (NYSE:ICE) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,910 shares of the financial services provider’s stock after selling 20,090 shares during the period. LGT Capital Partners LTD.’s holdings in Intercontinental Exchange were worth $16,169,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Aperio Group LLC boosted its stake in Intercontinental Exchange by 2.2% in the 3rd quarter. Aperio Group LLC now owns 305,639 shares of the financial services provider’s stock worth $22,889,000 after purchasing an additional 6,672 shares in the last quarter. Howard Capital Management lifted its stake in Intercontinental Exchange by 0.5% during the 3rd quarter. Howard Capital Management now owns 147,879 shares of the financial services provider’s stock valued at $11,075,000 after acquiring an additional 737 shares during the period. BB&T Corp lifted its stake in Intercontinental Exchange by 6.2% during the 3rd quarter. BB&T Corp now owns 29,139 shares of the financial services provider’s stock valued at $2,182,000 after acquiring an additional 1,714 shares during the period. First American Bank acquired a new stake in Intercontinental Exchange during the 3rd quarter valued at approximately $4,040,000. Finally, Gateway Investment Advisers LLC lifted its stake in Intercontinental Exchange by 3.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 522,909 shares of the financial services provider’s stock valued at $39,161,000 after acquiring an additional 19,689 shares during the period. Institutional investors own 88.52% of the company’s stock.
Shares of ICE traded down $0.27 during trading hours on Thursday, hitting $73.30. The stock had a trading volume of 105,187 shares, compared to its average volume of 2,519,839. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Intercontinental Exchange Inc has a fifty-two week low of $64.91 and a fifty-two week high of $78.48. The stock has a market cap of $42.94 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.18 and a beta of 0.65.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc will post 3.48 EPS for the current year.
In related news, President Benjamin Jackson sold 2,860 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $77.88, for a total value of $222,736.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David S. Goone sold 10,402 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $78.01, for a total transaction of $811,460.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,819 shares of company stock valued at $21,703,215. Company insiders own 1.50% of the company’s stock.
Several analysts have commented on the stock. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Berenberg Bank set a $92.00 price objective on shares of Intercontinental Exchange and gave the company a “buy” rating in a research note on Thursday, September 20th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Rosenblatt Securities assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 price objective for the company. Finally, FIX assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $83.29.
About Intercontinental Exchange
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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