Investment House LLC Increases Position in IntercontinentalExchange Group Inc. (ICE)
Investment House LLC boosted its position in shares of IntercontinentalExchange Group Inc. (NYSE:ICE) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 34,725 shares of the company’s stock after buying an additional 230 shares during the period. IntercontinentalExchange Group comprises 1.4% of Investment House LLC’s investment portfolio, making the stock its 18th largest position. Investment House LLC’s holdings in IntercontinentalExchange Group were worth $8,888,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of IntercontinentalExchange Group by 0.9% in the first quarter. State Street Corp now owns 4,607,392 shares of the company’s stock worth $1,083,386,000 after buying an additional 39,878 shares during the period. Wellington Management Group LLP boosted its stake in shares of IntercontinentalExchange Group by 12.6% in the first quarter. Wellington Management Group LLP now owns 2,864,823 shares of the company’s stock worth $673,634,000 after buying an additional 319,612 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of IntercontinentalExchange Group by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 2,814,315 shares of the company’s stock worth $661,758,000 after buying an additional 384,685 shares during the period. BlackRock Group LTD boosted its stake in shares of IntercontinentalExchange Group by 5.7% in the first quarter. BlackRock Group LTD now owns 1,051,017 shares of the company’s stock worth $247,136,000 after buying an additional 56,315 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of IntercontinentalExchange Group by 4.4% in the first quarter. Geode Capital Management LLC now owns 1,011,526 shares of the company’s stock worth $237,390,000 after buying an additional 42,213 shares during the period. 90.04% of the stock is owned by hedge funds and other institutional investors.
Shares of IntercontinentalExchange Group Inc. (NYSE:ICE) traded down 0.72% during mid-day trading on Tuesday, hitting $280.21. The company’s stock had a trading volume of 291,828 shares. The company has a market cap of $32.24 billion, a price-to-earnings ratio of 23.12 and a beta of 0.84. The stock’s 50 day moving average price is $279.82 and its 200 day moving average price is $258.29. IntercontinentalExchange Group Inc. has a 52-week low of $223.49 and a 52-week high of $287.02.
IntercontinentalExchange Group (NYSE:ICE) last announced its earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.05. IntercontinentalExchange Group had a return on equity of 10.72% and a net margin of 25.83%. The firm earned $1.10 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The business’s revenue was up 41.7% compared to the same quarter last year. Equities analysts forecast that IntercontinentalExchange Group Inc. will post $13.81 EPS for the current year.
A number of equities research analysts have commented on ICE shares. Zacks Investment Research raised IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Deutsche Bank AG lifted their target price on IntercontinentalExchange Group from $295.00 to $304.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Barclays PLC reaffirmed an “overweight” rating and set a $307.00 target price (up previously from $295.00) on shares of IntercontinentalExchange Group in a research report on Thursday, August 11th. JPMorgan Chase & Co. raised IntercontinentalExchange Group from a “not rated” rating to a “neutral” rating and set a $284.00 target price on the stock in a research report on Wednesday, June 1st. Finally, Keefe, Bruyette & Woods lifted their target price on IntercontinentalExchange Group from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. IntercontinentalExchange Group has an average rating of “Buy” and a consensus target price of $293.17.
In related news, insider Charles A. Vice sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $278.79, for a total value of $557,580.00. Following the sale, the insider now owns 61,983 shares in the company, valued at approximately $17,280,240.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 24,606 shares of the company’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $251.95, for a total value of $6,199,481.70. Following the completion of the sale, the chief executive officer now owns 313,444 shares in the company, valued at approximately $78,972,215.80. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
IntercontinentalExchange Group Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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