National Asset Management Inc. lifted its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,527 shares of the financial services provider’s stock after acquiring an additional 881 shares during the period. National Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,013,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ICE. Virtus ETF Advisers LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $26,000. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Engrave Wealth Partners LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $29,000. Smith Asset Management Group LP grew its position in shares of Intercontinental Exchange by 350.0% during the fourth quarter. Smith Asset Management Group LP now owns 360 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 280 shares during the last quarter. Finally, Solstein Capital LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 90.40% of the company’s stock.
ICE has been the topic of a number of research reports. UBS Group raised their target price on shares of Intercontinental Exchange from $106.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Deutsche Bank increased their price target on Intercontinental Exchange from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 price target for the company. in a report on Thursday, March 5th. Wells Fargo & Co increased their price target on Intercontinental Exchange from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Goldman Sachs Group raised Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating and set a $90.00 price target for the company in a report on Tuesday, March 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $102.21.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.04. Intercontinental Exchange had a return on equity of 13.85% and a net margin of 29.65%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company earned $0.92 earnings per share. Intercontinental Exchange’s quarterly revenue was up 22.8% compared to the same quarter last year. Equities analysts predict that Intercontinental Exchange Inc will post 4.49 earnings per share for the current year.
In other news, General Counsel Andrew J. Surdykowski sold 3,991 shares of Intercontinental Exchange stock in a transaction on Monday, April 27th. The stock was sold at an average price of $91.26, for a total transaction of $364,218.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 37,232 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $93.89, for a total value of $3,495,712.48. Following the transaction, the chief executive officer now directly owns 1,496,000 shares of the company’s stock, valued at approximately $140,459,440. The disclosure for this sale can be found here. In the last three months, insiders sold 216,223 shares of company stock valued at $19,123,431. 1.50% of the stock is owned by corporate insiders.
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, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
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