ING Groep NV acquired a new position in Intercontinental Exchange Inc (NYSE:ICE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,159 shares of the financial services provider’s stock, valued at approximately $787,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia boosted its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Bank of Nova Scotia now owns 30,186 shares of the financial services provider’s stock worth $1,990,000 after purchasing an additional 710 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Intercontinental Exchange by 1.8% in the 4th quarter. MAI Capital Management now owns 44,903 shares of the financial services provider’s stock worth $3,168,000 after purchasing an additional 783 shares in the last quarter. Commerce Bank boosted its holdings in shares of Intercontinental Exchange by 3.1% in the 3rd quarter. Commerce Bank now owns 27,381 shares of the financial services provider’s stock worth $1,881,000 after purchasing an additional 829 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of Intercontinental Exchange by 7.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 12,234 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 841 shares in the last quarter. Finally, Synovus Financial Corp boosted its holdings in shares of Intercontinental Exchange by 10.8% in the 3rd quarter. Synovus Financial Corp now owns 8,922 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.
A number of research firms have recently issued reports on ICE. UBS Group upped their price objective on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Citigroup increased their target price on Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. Bank of America dropped their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Argus restated a “buy” rating and set a $67.00 target price (down from $80.00) on shares of Intercontinental Exchange in a report on Friday, February 9th. Finally, 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 report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $76.08.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. Intercontinental Exchange’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. equities research analysts forecast that Intercontinental Exchange Inc will post 3.54 earnings per share 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. This represents a $0.96 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is 18.87%.
Intercontinental Exchange declared that its board has approved a share repurchase plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Intercontinental Exchange news, insider Dean S. Mathison sold 1,042 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total transaction of $78,973.18. Following the completion of the transaction, the insider now owns 12,485 shares of the company’s stock, valued at approximately $946,238.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Scott A. Hill sold 7,526 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $75.00, for a total value of $564,450.00. Following the transaction, the chief financial officer now directly owns 202,371 shares of the company’s stock, valued at approximately $15,177,825. The disclosure for this sale can be found here. Insiders have sold a total of 48,910 shares of company stock valued at $3,579,672 in the last ninety days. 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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