Kelly Lawrence W & Associates Inc. CA reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,880 shares of the financial services provider’s stock after selling 2,230 shares during the period. Intercontinental Exchange comprises 3.3% of Kelly Lawrence W & Associates Inc. CA’s holdings, making the stock its 8th largest position. Kelly Lawrence W & Associates Inc. CA owned approximately 0.22% of Intercontinental Exchange worth $16,472,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in ICE. Ameriprise Financial Inc. raised its stake in shares of Intercontinental Exchange by 6.6% in the first quarter. Ameriprise Financial Inc. now owns 7,031,455 shares of the financial services provider’s stock valued at $420,922,000 after buying an additional 434,968 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Intercontinental Exchange during the first quarter worth $1,836,000. Quest Investment Management LLC purchased a new position in Intercontinental Exchange during the first quarter worth $2,837,000. Schmidt P J Investment Management Inc. increased its position in Intercontinental Exchange by 10.7% in the second quarter. Schmidt P J Investment Management Inc. now owns 15,525 shares of the financial services provider’s stock worth $1,023,000 after buying an additional 1,500 shares during the period. Finally, IBM Retirement Fund increased its position in Intercontinental Exchange by 117.7% in the second quarter. IBM Retirement Fund now owns 14,291 shares of the financial services provider’s stock worth $1,052,000 after buying an additional 7,727 shares during the period. Hedge funds and other institutional investors own 89.38% of the company’s stock.
Shares of Intercontinental Exchange Inc. (ICE) traded down 0.86% during trading on Friday, reaching $64.59. The company’s stock had a trading volume of 1,852,295 shares. Intercontinental Exchange Inc. has a one year low of $52.27 and a one year high of $67.48. The firm’s 50-day moving average price is $65.84 and its 200-day moving average price is $61.74. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 23.93 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.
A number of research firms recently weighed in on ICE. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. Citigroup Inc. assumed coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective for the company. Finally, BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $68.36.
In related news, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $60.37, for a total transaction of $905,550.00. Following the transaction, the insider now directly owns 384,971 shares in the company, valued at $23,240,699.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 73,374 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.91, for a total transaction of $4,395,836.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,024 shares of company stock worth $9,732,522. Company insiders own 1.50% of the company’s stock.
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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