Harfst & Associates Inc. Invests $355,000 in Intercontinental Exchange Inc. (ICE) Stock
Harfst & Associates Inc. bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,389 shares of the financial services provider’s stock, valued at approximately $355,000.
A number of other large investors also recently added to or reduced their stakes in ICE. BlackRock Inc. lifted its stake in Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock valued at $2,098,452,000 after buying an additional 33,898,484 shares during the period. OppenheimerFunds Inc. lifted its stake in Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock valued at $337,737,000 after buying an additional 4,361,480 shares during the period. Northern Trust Corp lifted its stake in Intercontinental Exchange by 19.9% in the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after buying an additional 1,883,432 shares during the period. BT Investment Management Ltd acquired a new position in Intercontinental Exchange in the second quarter valued at about $97,240,000. Finally, FMR LLC lifted its stake in Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock valued at $534,580,000 after buying an additional 1,443,992 shares during the period. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
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ICE has been the topic of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Citigroup Inc. initiated coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. 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’s stock. The company presently has an average rating of “Buy” and a consensus price target of $68.81.
Intercontinental Exchange Inc. (NYSE:ICE) traded up 0.33% on Friday, hitting $67.05. The company had a trading volume of 1,868,505 shares. The stock’s 50-day moving average price is $65.38 and its 200 day moving average price is $62.86. Intercontinental Exchange Inc. has a one year low of $52.27 and a one year high of $67.48. The company has a market capitalization of $7.71 billion, a P/E ratio of 24.84 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $0.69 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc. will post $2.94 EPS for the current fiscal year.
In other news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $64.32, for a total value of $804,000.00. Following the completion of the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at $24,600,534.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles A. Vice sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $66.33, for a total value of $994,950.00. Following the completion of the sale, the insider now directly owns 384,971 shares of the company’s stock, valued at $25,535,126.43. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,420 shares of company stock worth $8,987,176. 1.50% of the stock is owned by company insiders.
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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