Intercontinental Exchange Inc (ICE) Position Reduced by Signature Estate & Investment Advisors LLC
Signature Estate & Investment Advisors LLC trimmed its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 295,554 shares of the financial services provider’s stock after selling 3,109 shares during the period. Intercontinental Exchange makes up about 2.0% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 23rd largest holding. Signature Estate & Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $22,134,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ICE. Kaizen Advisory LLC lifted its position in shares of Intercontinental Exchange by 143.4% during the 2nd quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 799 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $104,000. Sun Life Financial INC raised its position in shares of Intercontinental Exchange by 717.7% during the 2nd quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,378 shares during the last quarter. Townsend & Associates Inc raised its position in shares of Intercontinental Exchange by 894.0% during the 2nd quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,484 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $130,000. Institutional investors own 88.52% of the company’s stock.
Several brokerages recently issued reports on ICE. Compass Point began coverage on Intercontinental Exchange in a research report on Friday, June 22nd. They set a “buy” rating and a $85.00 price objective for the company. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co restated a “market perform” rating and set a $80.00 price objective (up from $74.00) on shares of Intercontinental Exchange in a research report on Monday, July 9th. Finally, Barclays lifted their price objective on Intercontinental Exchange from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $83.29.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 2nd. The financial services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. Intercontinental Exchange’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Research analysts forecast that Intercontinental Exchange Inc will post 3.48 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $72.59, for a total value of $2,540,650.00. Following the completion of the sale, the insider now directly owns 419,907 shares of the company’s stock, valued at approximately $30,481,049.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Johnathan H. Short sold 6,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $75.73, for a total transaction of $454,380.00. The disclosure for this sale can be found here. Insiders sold a total of 288,819 shares of company stock valued at $21,703,215 over the last ninety days. 1.50% of the stock is owned by corporate insiders.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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