Panagora Asset Management Inc. lessened its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,618 shares of the financial services provider’s stock after selling 507 shares during the quarter. Panagora Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,599,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in ICE. Brandywine Oak Private Wealth LLC grew its position in Intercontinental Exchange by 3.6% in the second quarter. Brandywine Oak Private Wealth LLC now owns 3,247 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 113 shares in the last quarter. HCR Wealth Advisors lifted its holdings in shares of Intercontinental Exchange by 0.8% in the 2nd quarter. HCR Wealth Advisors now owns 14,559 shares of the financial services provider’s stock worth $1,251,000 after acquiring an additional 113 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of Intercontinental Exchange by 41.8% during the 2nd quarter. Sandy Spring Bank now owns 404 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 119 shares during the period. Carroll Financial Associates Inc. boosted its stake in shares of Intercontinental Exchange by 51.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 122 shares during the period. Finally, Chemical Bank grew its holdings in Intercontinental Exchange by 0.5% during the 1st quarter. Chemical Bank now owns 27,993 shares of the financial services provider’s stock valued at $2,131,000 after purchasing an additional 129 shares during the last quarter. 90.43% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on ICE. Citigroup downgraded shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $99.00 in a research note on Monday, July 22nd. Raymond James upped their price target on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Friday, July 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $88.25.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.85%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc will post 3.77 EPS for the current year.
In other news, Vice Chairman Charles A. Vice sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $86.74, for a total value of $1,301,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David S. Goone sold 9,405 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $89.01, for a total transaction of $837,139.05. Following the completion of the sale, the insider now owns 172,145 shares of the company’s stock, valued at approximately $15,322,626.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,160 shares of company stock worth $15,261,966. 1.50% of the stock is owned by company insiders.
Intercontinental Exchange Company 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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