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Assenagon Asset Management S.A. grew its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 155.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,674 shares of the financial services provider’s stock after buying an additional 240,122 shares during the period. Assenagon Asset Management S.A. owned 0.07% of Intercontinental Exchange worth $29,557,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Colony Group LLC increased its position in Intercontinental Exchange by 19.4% during the second quarter. Colony Group LLC now owns 4,221 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 686 shares during the last quarter. Atria Investments LLC increased its position in Intercontinental Exchange by 4.0% during the third quarter. Atria Investments LLC now owns 17,877 shares of the financial services provider’s stock worth $1,339,000 after purchasing an additional 692 shares during the last quarter. DNB Asset Management AS increased its position in Intercontinental Exchange by 0.3% during the third quarter. DNB Asset Management AS now owns 205,036 shares of the financial services provider’s stock worth $15,355,000 after purchasing an additional 706 shares during the last quarter. Traynor Capital Management Inc. increased its position in Intercontinental Exchange by 15.4% during the second quarter. Traynor Capital Management Inc. now owns 5,309 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 707 shares during the last quarter. Finally, World Asset Management Inc increased its position in Intercontinental Exchange by 2.0% during the second quarter. World Asset Management Inc now owns 37,002 shares of the financial services provider’s stock worth $2,721,000 after purchasing an additional 709 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.
ICE stock traded up $0.26 during mid-day trading on Monday, hitting $74.00. 181,836 shares of the company were exchanged, compared to its average volume of 2,848,720. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $42.29 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.17 and a beta of 0.65. Intercontinental Exchange Inc has a 12-month low of $64.98 and a 12-month high of $78.48.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The company had revenue of $1.25 billion during the quarter, compared to badyst estimates of $1.24 billion. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. Intercontinental Exchange’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. Sell-side badysts anticipate that Intercontinental Exchange Inc will post 3.45 EPS for the current fiscal year.
In other news, CEO Jeffrey C. Sprecher sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $73.28, for a total value of $5,862,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $72.59, for a total transaction of $2,540,650.00. Following the completion of the transaction, the insider now directly owns 419,907 shares of the company’s stock, valued at approximately $30,481,049.13. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,819 shares of company stock valued at $21,703,215. 1.50% of the stock is currently owned by insiders.
Several equities research badysts recently issued reports on the stock. Citigroup raised their price objective on shares of Intercontinental Exchange from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 18th. Deutsche Bank raised their price objective on shares of Intercontinental Exchange from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. FIX badumed coverage on shares of Intercontinental Exchange in a research report on Wednesday, September 5th. They set a “buy” rating and a $88.00 price objective for the company. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Three investment badysts have rated the stock with a hold rating and twelve have badigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $83.29.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various badet clbades, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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