TD Asset Management Inc. raised its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 91.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,021,707 shares of the financial services provider’s stock after acquiring an additional 489,215 shares during the period. TD Asset Management Inc. owned approximately 0.18% of Intercontinental Exchange worth $87,806,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Carroll Financial Associates Inc. increased its position in shares of Intercontinental Exchange by 51.3% during the second quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 122 shares during the last quarter. Arlington Partners LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $34,000. Capital Advisors Ltd. LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $42,000. SevenBridge Financial Group LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $46,000. Finally, Pittenger & Anderson Inc. acquired a new stake in shares of Intercontinental Exchange during the first quarter valued at about $44,000. Institutional investors and hedge funds own 89.41% of the company’s stock.
In related news, CFO Scott A. Hill sold 33,875 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $90.06, for a total value of $3,050,782.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 53,166 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $81.26, for a total transaction of $4,320,269.16. The disclosure for this sale can be found here. Insiders sold 179,966 shares of company stock valued at $15,414,996 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange Inc will post 3.78 EPS for the current fiscal year.
ICE has been the subject of a number of recent analyst reports. Citigroup cut shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and lifted their price target for the company from $92.00 to $99.00 in a research report on Monday, July 22nd. Raymond James lifted their price target on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 5th. Finally, ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $88.21.
Intercontinental Exchange Profile
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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