Intercontinental Exchange Inc. (ICE) Position Cut by Balyasny Asset Management LLC
Balyasny Asset Management LLC trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 13.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 164,971 shares of the financial services provider’s stock after selling 24,809 shares during the quarter. Balyasny Asset Management LLC’s holdings in Intercontinental Exchange were worth $10,875,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in ICE. Thompson Davis & CO. Inc. grew its holdings in Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 32 shares during the period. Norway Savings Bank lifted its position in Intercontinental Exchange by 16.7% during the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. lifted its position in Intercontinental Exchange by 186.5% during the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $128,000. Finally, Guardian Life Insurance Co. of America lifted its position in Intercontinental Exchange by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.
ICE has been the topic of a number of recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. BidaskClub raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Wells Fargo & Company lifted their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $69.28.
In related news, CFO Scott A. Hill sold 37,630 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Charles A. Vice sold 12,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 382,471 shares in the company, valued at approximately $25,598,784.03. The disclosure for this sale can be found here. Insiders sold 143,050 shares of company stock worth $9,522,455 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Inc. (NYSE:ICE) opened at 70.96 on Friday. Intercontinental Exchange Inc. has a 12 month low of $52.27 and a 12 month high of $71.10. The firm has a market capitalization of $8.16 billion, a PE ratio of 26.29 and a beta of 0.74. The firm’s 50-day moving average is $66.36 and its 200-day moving average is $63.53.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Intercontinental Exchange Inc. will post $2.94 EPS for the current year.
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Intercontinental Exchange Company 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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