Raymond James Trust N.A. Trims Stake in Intercontinental Exchange Inc. (ICE)
Raymond James Trust N.A. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 10.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,635 shares of the financial services provider’s stock after selling 977 shares during the period. Raymond James Trust N.A.’s holdings in Intercontinental Exchange were worth $570,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. raised its stake in Intercontinental Exchange by 2.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 32 shares during the last quarter. Norway Savings Bank raised its stake in Intercontinental Exchange by 16.7% during the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 235 shares during the last quarter. Bessemer Group Inc. raised its stake in Intercontinental Exchange by 186.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,240 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $128,000. Finally, Guardian Life Insurance Co. of America raised its stake in Intercontinental Exchange by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 16 shares during the last quarter. 89.74% of the stock is owned by institutional investors and hedge funds.
Several analysts have commented on the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, July 13th. Royal Bank Of Canada raised Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Citigroup Inc. assumed coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price objective for the company. Finally, BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $68.81.
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Intercontinental Exchange Inc. (NYSE ICE) opened at 66.14 on Friday. The firm has a market cap of $7.61 billion, a PE ratio of 24.51 and a beta of 0.72. The firm’s 50-day moving average price is $65.43 and its 200 day moving average price is $62.63. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $67.48.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post $2.94 earnings per share for the current year.
In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Hill sold 17,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $65.00, for a total value of $1,105,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,420 shares of company stock worth $8,987,176. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange 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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