Arrow Financial Corp increased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,774 shares of the financial services provider’s stock after buying an additional 3,951 shares during the period. Arrow Financial Corp’s holdings in Intercontinental Exchange were worth $2,951,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 in the last quarter. BlackRock Inc. boosted its position in 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 valued at $2,098,452,000 after buying an additional 33,898,484 shares during the period. Wellington Management Group LLP boosted its position in 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 valued at $1,605,588,000 after buying an additional 721,080 shares during the period. State Street Corp raised its stake in 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 valued at $1,535,555,000 after buying an additional 481,909 shares in the last quarter. Finally, FMR LLC raised its stake in Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock valued at $534,580,000 after buying an additional 1,443,992 shares in the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.
Intercontinental Exchange Inc. (ICE) opened at 64.59 on Friday. The company has a market cap of $7.43 billion, a PE ratio of 23.93 and a beta of 0.71. The company’s 50-day moving average price is $65.84 and its 200 day moving average price is $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 posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.
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Several research firms recently issued reports on ICE. BidaskClub lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada raised Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $65.00 to $70.00 in a research report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 target price (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Finally, Citigroup Inc. assumed coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $68.36.
In other news, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 384,971 shares of the company’s stock, valued at $23,240,699.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jefferson Hague sold 1,150 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.94, for a total value of $68,931.00. 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 ninety days. 1.50% of the stock is owned by 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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