Intercontinental Exchange Inc. (ICE) Holdings Boosted by Bridgewater Associates LP
Bridgewater Associates LP boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,507 shares of the financial services provider’s stock after buying an additional 485 shares during the quarter. Bridgewater Associates LP’s holdings in Intercontinental Exchange were worth $627,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its position in Intercontinental Exchange by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 7,031,455 shares of the financial services provider’s stock worth $420,922,000 after buying an additional 434,968 shares during the last quarter. Quest Investment Management LLC purchased a new position in Intercontinental Exchange in the 1st quarter worth about $2,837,000. NBT Bank N A NY purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $245,000. Alerus Financial NA purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $4,256,000. Finally, AlphaMark Advisors LLC raised its position in Intercontinental Exchange by 1.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 67,255 shares of the financial services provider’s stock worth $4,433,000 after buying an additional 728 shares during the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
ICE has been the subject of several research reports. BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research report on Thursday, July 13th. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $70.00 in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target (up previously from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, Barclays PLC initiated coverage on shares of Intercontinental Exchange in a research report on Friday, September 8th. They set an “overweight” rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $68.81.
Shares of Intercontinental Exchange Inc. (NYSE:ICE) opened at 65.38 on Friday. The company has a 50-day moving average of $65.41 and a 200 day moving average of $62.69. Intercontinental Exchange Inc. has a 12-month low of $52.27 and a 12-month high of $67.48. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 24.22 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.75. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current year.
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In other Intercontinental Exchange news, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $66.33, for a total transaction of $994,950.00. Following the transaction, the insider now owns 384,971 shares of the company’s stock, valued at $25,535,126.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the transaction, the insider now directly owns 382,471 shares in the company, valued at approximately $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold 137,420 shares of company stock worth $8,987,176 in the last three months. 1.50% of the stock is currently owned by corporate insiders.
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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