Progressive Investment Management Corp Has $683,000 Stake in Intercontinental Exchange Inc. (ICE)

Progressive Investment Management Corp maintained its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,361 shares of the financial services provider’s stock at the end of the second quarter. Progressive Investment Management Corp’s holdings in Intercontinental Exchange were worth $683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the last quarter. BlackRock Inc. raised its position in shares of Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after buying an additional 33,898,484 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 2.8% in the first quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after buying an additional 721,080 shares during the last quarter. State Street Corp raised its position in shares of Intercontinental Exchange by 1.9% in the first quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after buying an additional 481,909 shares during the last quarter. Finally, FMR LLC raised its position in shares of Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares during the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.

Intercontinental Exchange Inc. (NYSE ICE) opened at 64.59 on Monday. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.93 and a beta of 0.71. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $61.74. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $67.48.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.

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ICE has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Citigroup Inc. initiated coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $68.36.

In related news, Director William Jefferson Hague sold 1,150 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $59.94, for a total value of $68,931.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $60.37, for a total transaction of $905,550.00. Following the completion of the sale, the insider now directly owns 384,971 shares in the company, valued at approximately $23,240,699.27. The disclosure for this sale can be found here. Insiders have sold 157,024 shares of company stock valued at $9,732,522 over the last quarter. Company insiders own 1.50% of the company’s stock.

About Intercontinental Exchange

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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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