Wellington Shields Capital Management LLC bought a new stake in Intercontinental Exchange Inc (NYSE:ICE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,675 shares of the financial services provider’s stock, valued at approximately $330,000.
A number of other hedge funds also recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 14.6% in the third quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock valued at $712,683,000 after acquiring an additional 1,325,290 shares during the period. Capital International Investors boosted its stake in Intercontinental Exchange by 15.6% in the third quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares during the period. Alkeon Capital Management LLC boosted its stake in Intercontinental Exchange by 0.3% in the third quarter. Alkeon Capital Management LLC now owns 3,232,945 shares of the financial services provider’s stock valued at $222,104,000 after acquiring an additional 10,000 shares during the period. APG Asset Management N.V. boosted its stake in Intercontinental Exchange by 0.9% in the third quarter. APG Asset Management N.V. now owns 3,183,077 shares of the financial services provider’s stock valued at $218,677,000 after acquiring an additional 28,300 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Intercontinental Exchange by 0.9% in the third quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock valued at $200,298,000 after acquiring an additional 24,797 shares during the period. Institutional investors own 90.14% of the company’s stock.
A number of equities analysts have commented on the company. Berenberg Bank assumed coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price for the company. Argus lifted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, January 3rd. Royal Bank of Canada lifted their target price on Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Finally, Bank of America decreased their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $76.08.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. research analysts anticipate that Intercontinental Exchange Inc will post 3.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.40%. Intercontinental Exchange’s dividend payout ratio is presently 18.87%.
Intercontinental Exchange announced that its board has authorized a share repurchase program on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Intercontinental Exchange news, CFO Scott A. Hill sold 7,526 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $75.00, for a total value of $564,450.00. Following the completion of the sale, the chief financial officer now directly owns 202,371 shares in the company, valued at $15,177,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $71.93, for a total value of $539,475.00. Following the completion of the sale, the insider now owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,910 shares of company stock valued at $3,579,672. 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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