Candriam Luxembourg S.C.A. Boosts Position in Intercontinental Exchange Inc. (ICE)
Candriam Luxembourg S.C.A. boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,325 shares of the financial services provider’s stock after purchasing an additional 3,107 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Intercontinental Exchange were worth $2,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alerus Financial NA acquired a new position in Intercontinental Exchange during the second quarter valued at $4,256,000. NBT Bank N A NY acquired a new position in Intercontinental Exchange during the second quarter valued at $245,000. State of Tennessee Treasury Department lifted its position in Intercontinental Exchange by 32.8% during the second quarter. State of Tennessee Treasury Department now owns 216,187 shares of the financial services provider’s stock valued at $14,251,000 after purchasing an additional 53,449 shares during the period. Oak Ridge Investments LLC lifted its position in Intercontinental Exchange by 7.2% during the second quarter. Oak Ridge Investments LLC now owns 250,107 shares of the financial services provider’s stock valued at $16,487,000 after purchasing an additional 16,704 shares during the period. Finally, BB&T Securities LLC lifted its position in Intercontinental Exchange by 140.0% during the second quarter. BB&T Securities LLC now owns 18,404 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 10,735 shares during the period. Institutional investors own 90.21% of the company’s stock.
A number of research firms recently issued reports on ICE. Wells Fargo & Company boosted their target price 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, October 5th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Barclays PLC boosted their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Royal Bank Of Canada lifted their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a report on Sunday, October 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average target price of $73.30.
Shares of Intercontinental Exchange Inc. (ICE) opened at $66.53 on Thursday. The company has a market cap of $39,372.27, a PE ratio of 23.05, a PEG ratio of 2.49 and a beta of 0.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $53.91 and a one year high of $71.24.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 earnings per share. research analysts forecast that Intercontinental Exchange Inc. will post 2.95 EPS for the current fiscal year.
Intercontinental Exchange declared that its board has authorized a share repurchase program on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $68.52, for a total transaction of $856,500.00. Following the transaction, the insider now owns 382,471 shares in the company, valued at $26,206,912.92. The disclosure for this sale can be found here. Insiders have sold 155,550 shares of company stock valued at $10,414,330 in the last three months. Corporate insiders own 1.50% of the company’s stock.
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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