AMP Capital Investors Ltd cut its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 282,614 shares of the financial services provider’s stock after selling 2,048 shares during the quarter. AMP Capital Investors Ltd’s holdings in Intercontinental Exchange were worth $19,941,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $109,000. Valeo Financial Advisors LLC grew its holdings in shares of Intercontinental Exchange by 257.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,172 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $122,000. Cerebellum GP LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $127,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter worth about $145,000. Institutional investors and hedge funds own 89.72% of the company’s stock.
A number of equities research analysts have recently commented on ICE shares. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. JPMorgan Chase & Co. upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $76.00 to $83.00 in a report on Tuesday, February 20th. Argus lifted their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Berenberg Bank started coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target for the company. Finally, Bank of America lowered their price target on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $76.62.
Intercontinental Exchange (NYSE:ICE) last released its earnings results 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. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. analysts anticipate that Intercontinental Exchange Inc will post 3.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Intercontinental Exchange’s dividend payout ratio (DPR) is 18.87%.
In other Intercontinental Exchange news, insider Dean S. Mathison sold 2,570 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total transaction of $179,308.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $72.55, for a total transaction of $544,125.00. Following the transaction, the insider now directly owns 377,471 shares in the company, valued at $27,385,521.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,201 shares of company stock worth $13,690,343. 1.50% of the stock is currently owned by corporate insiders.
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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