Fayez Sarofim & Co. Reduces Holdings in Intercontinental Exchange Inc. (ICE)
Fayez Sarofim & Co. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,463,341 shares of the financial services provider’s stock after selling 21,449 shares during the quarter. Fayez Sarofim & Co. owned about 0.25% of Intercontinental Exchange worth $96,464,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ICE. UBS Asset Management Americas Inc. raised its position in Intercontinental Exchange by 11.2% in the first quarter. UBS Asset Management Americas Inc. now owns 1,499,150 shares of the financial services provider’s stock worth $89,754,000 after acquiring an additional 150,990 shares in the last quarter. Toronto Dominion Bank raised its holdings in Intercontinental Exchange by 56.5% during the 1st quarter. Toronto Dominion Bank now owns 160,746 shares of the financial services provider’s stock worth $9,623,000 after buying an additional 58,022 shares during the period. Pioneer Investment Management Inc. raised its holdings in Intercontinental Exchange by 1.5% during the 1st quarter. Pioneer Investment Management Inc. now owns 6,745,529 shares of the financial services provider’s stock worth $403,854,000 after buying an additional 101,681 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth about $9,497,000. Finally, CIBC World Markets Inc. raised its holdings in Intercontinental Exchange by 103.5% during the 1st quarter. CIBC World Markets Inc. now owns 42,886 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 21,807 shares during the period. Hedge funds and other institutional investors own 89.74% of the company’s stock.
In other news, CFO Scott A. Hill sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $65.00, for a total transaction of $1,105,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $64.32, for a total value of $804,000.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at approximately $24,600,534.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,420 shares of company stock worth $8,987,176. 1.50% of the stock is currently owned by insiders.
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ICE has been the topic of several recent analyst reports. Citigroup Inc. initiated coverage on Intercontinental Exchange in a report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a report on Monday, June 26th. Barclays PLC initiated coverage on Intercontinental Exchange in a report on Friday, September 8th. They set an “overweight” rating and a $72.00 price objective on the stock. Royal Bank Of Canada set a $65.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a report on Tuesday, June 6th. Finally, BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.81.
Intercontinental Exchange Inc. (NYSE:ICE) traded down 0.17% during trading on Monday, reaching $65.27. The company’s stock had a trading volume of 366,860 shares. The firm has a market cap of $7.51 billion, a P/E ratio of 24.18 and a beta of 0.72. Intercontinental Exchange Inc. has a 52 week low of $52.27 and a 52 week high of $67.48. The stock’s 50 day moving average is $65.41 and its 200-day moving average is $62.69.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS 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%. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current fiscal year.
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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