Intercontinental Exchange Inc. (ICE) Shares Bought by Mawer Investment Management Ltd.
Mawer Investment Management Ltd. raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 103.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,000 shares of the financial services provider’s stock after acquiring an additional 146,820 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $19,854,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Intercontinental Exchange by 2.1% during the second quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock valued at $2,647,541,000 after acquiring an additional 844,270 shares during the last quarter. BlackRock Inc. boosted its position in Intercontinental Exchange by 1.1% during the second quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock valued at $2,336,613,000 after acquiring an additional 396,042 shares during the last quarter. Northern Trust Corp boosted its position in Intercontinental Exchange by 19.9% during the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after acquiring an additional 1,883,432 shares during the last quarter. Carmignac Gestion boosted its position in Intercontinental Exchange by 0.4% during the second quarter. Carmignac Gestion now owns 10,375,555 shares of the financial services provider’s stock valued at $683,957,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Intercontinental Exchange by 1,254.2% during the second quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock valued at $596,480,000 after acquiring an additional 8,380,362 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the sale, the insider now owns 382,471 shares in the company, valued at approximately $24,600,534.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total transaction of $2,635,228.90. The disclosure for this sale can be found here. Insiders have sold a total of 75,130 shares of company stock worth $5,167,729 in the last three months. Insiders own 1.50% of the company’s stock.
A number of brokerages have commented on ICE. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Barclays PLC began 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 on the stock. 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. Citigroup Inc. upped their price target on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $73.30.
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Intercontinental Exchange Inc. (NYSE ICE) traded up $0.20 during mid-day trading on Wednesday, hitting $68.28. 3,482,300 shares of the stock were exchanged, compared to its average volume of 2,659,479. The company has a market cap of $39,828.58, a PE ratio of 23.32, a PEG ratio of 2.52 and a beta of 0.71. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. 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 quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for 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 business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. research analysts forecast that Intercontinental Exchange Inc. will post 2.95 EPS for the current year.
Intercontinental Exchange announced that its board has authorized a share buyback program on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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