Penserra Capital Management LLC Has $473,000 Position in Intercontinental Exchange Inc (ICE)

Penserra Capital Management LLC cut its stake in Intercontinental Exchange Inc (NYSE:ICE) by 18.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,320 shares of the financial services provider’s stock after selling 1,476 shares during the quarter. Penserra Capital Management LLC’s holdings in Intercontinental Exchange were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ICE. Royal London Asset Management Ltd. purchased a new stake in Intercontinental Exchange in the second quarter worth $17,795,000. Baird Financial Group Inc. lifted its holdings in shares of Intercontinental Exchange by 11.2% during the second quarter. Baird Financial Group Inc. now owns 131,129 shares of the financial services provider’s stock worth $9,644,000 after purchasing an additional 13,229 shares during the period. Stock Yards Bank & Trust Co. lifted its holdings in shares of Intercontinental Exchange by 1.2% during the third quarter. Stock Yards Bank & Trust Co. now owns 186,409 shares of the financial services provider’s stock worth $13,960,000 after purchasing an additional 2,130 shares during the period. Clinton Group Inc. acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $4,917,000. Finally, OppenheimerFunds Inc. lifted its holdings in shares of Intercontinental Exchange by 17.1% during the second quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock worth $510,306,000 after purchasing an additional 1,011,626 shares during the period. Institutional investors own 89.31% of the company’s stock.

A number of research firms recently commented on ICE. Zacks Investment Research reaffirmed a “buy” rating and set a $86.00 target price on shares of Intercontinental Exchange in a report on Tuesday. Citigroup lifted their target price on Intercontinental Exchange from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, July 18th. Wells Fargo & Co boosted their price target on Intercontinental Exchange from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. FIX initiated coverage on Intercontinental Exchange in a report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price target for the company. Finally, Deutsche Bank boosted their price target on Intercontinental Exchange from $82.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, September 27th. Two investment badysts have rated the stock with a hold rating and thirteen have badigned a buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $84.29.

In other news, Vice Chairman Charles A. Vice sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $78.12, for a total value of $2,734,200.00. Following the completion of the sale, the insider now directly owns 419,907 shares in the company, valued at $32,803,134.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 80,000 shares of the business’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 disclosure for this sale can be found here. Insiders sold 288,819 shares of company stock valued at $21,896,765 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Shares of NYSE:ICE opened at $78.91 on Wednesday. Intercontinental Exchange Inc has a 12-month low of $65.97 and a 12-month high of $80.00. The company has a market capitalization of $44.37 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.25 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the company posted $0.73 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, sell-side badysts anticipate that Intercontinental Exchange Inc will post 3.52 EPS for the current year.

Intercontinental Exchange announced that its board has approved a share buyback plan on Wednesday, October 31st that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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Intercontinental Exchange 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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