Great West Life Assurance Co. Can Has $29.92 Million Stake in Intercontinental Exchange Inc. (ICE)
Great West Life Assurance Co. Can reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 21.6% during the second quarter, Holdings Channel reports. The firm owned 454,414 shares of the financial services provider’s stock after selling 125,014 shares during the period. Great West Life Assurance Co. Can’s holdings in Intercontinental Exchange were worth $29,920,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in ICE. Norway Savings Bank boosted its stake in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after buying an additional 235 shares during the period. Guardian Life Insurance Co. of America boosted its stake in Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock worth $138,000 after buying an additional 16 shares during the period. Clearbridge Investments LLC boosted its stake in Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,265 shares during the period. Parallel Advisors LLC boosted its stake in Intercontinental Exchange by 45.3% in the first quarter. Parallel Advisors LLC now owns 2,400 shares of the financial services provider’s stock worth $145,000 after buying an additional 748 shares during the period. Finally, Howard Hughes Medical Institute purchased a new stake in Intercontinental Exchange during the first quarter worth $182,000. 89.59% of the stock is currently owned by institutional investors and hedge funds.
Intercontinental Exchange Inc. (NYSE ICE) opened at 64.82 on Friday. The firm’s 50-day moving average is $65.64 and its 200 day moving average is $61.09. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The firm has a market cap of $7.46 billion, a PE ratio of 25.03 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange Inc. will post $2.98 earnings per share for the current fiscal year.
A number of research firms recently weighed in on ICE. Deutsche Bank AG reaffirmed a “buy” rating and issued a $66.00 price objective (down previously from $67.00) on shares of Intercontinental Exchange in a report on Monday, May 15th. Zacks Investment Research cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $65.00 to $70.00 in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Intercontinental Exchange in a report on Monday, June 26th. Finally, BidaskClub cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.49.
In related news, Director Charles R. Crisp sold 3,365 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $58.65, for a total transaction of $197,357.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jean Marc Forneri sold 6,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $58.27, for a total transaction of $349,620.00. Following the transaction, the director now owns 47,350 shares in the company, valued at approximately $2,759,084.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,389 shares of company stock worth $10,279,500. 1.50% of the stock is owned by corporate insiders.
About Intercontinental Exchange
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.
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange Inc. and related companies with MarketBeat.com's FREE daily email newsletter.