Seeyond trimmed its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 33.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,897 shares of the financial services provider’s stock after selling 8,330 shares during the period. Seeyond’s holdings in Intercontinental Exchange were worth $1,452,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Mirova bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $55,000. Meadow Creek Investment Management LLC boosted its stake in Intercontinental Exchange by 4.4% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 398,776 shares of the financial services provider’s stock valued at $34,270,000 after purchasing an additional 16,744 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Intercontinental Exchange by 4.4% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 484,228 shares of the financial services provider’s stock valued at $41,614,000 after purchasing an additional 20,332 shares during the period. Commonwealth Bank of Australia grew its holdings in Intercontinental Exchange by 3.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 36,823 shares of the financial services provider’s stock valued at $3,158,000 after buying an additional 1,179 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its position in Intercontinental Exchange by 38.3% during the 2nd quarter. Magellan Asset Management Ltd now owns 907 shares of the financial services provider’s stock worth $78,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 90.43% of the company’s stock.
In related news, President Benjamin Jackson sold 1,896 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $90.26, for a total transaction of $171,132.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Charles A. Vice sold 15,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $86.74, for a total value of $1,301,100.00. The disclosure for this sale can be found here. Insiders sold 167,160 shares of company stock worth $15,261,966 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.90 EPS. As a group, research analysts predict that Intercontinental Exchange Inc will post 3.77 EPS for the current fiscal year.
Several equities analysts recently commented on ICE shares. Raymond James upped their price target on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 5th. Citigroup downgraded shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $92.00 to $99.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $88.25.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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