Janus Henderson Group PLC Raises Holdings in Intercontinental Exchange Inc (ICE)
Janus Henderson Group PLC raised its position in Intercontinental Exchange Inc (NYSE:ICE) by 5.8% in the third quarter, Holdings Channel reports. The institutional investor owned 12,202,306 shares of the financial services provider’s stock after purchasing an additional 666,185 shares during the period. Janus Henderson Group PLC’s holdings in Intercontinental Exchange were worth $913,835,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kaizen Advisory LLC increased its holdings in shares of Intercontinental Exchange by 143.4% in the second quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 799 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $104,000. Sun Life Financial INC increased its holdings in shares of Intercontinental Exchange by 717.7% in the second quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,378 shares during the period. LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $165,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $183,000. Institutional investors own 88.92% of the company’s stock.
Shares of ICE stock opened at $81.22 on Monday. Intercontinental Exchange Inc has a 1-year low of $65.97 and a 1-year high of $81.29. The firm has a market cap of $46.26 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 2.34 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38.
Intercontinental Exchange announced that its board has authorized a stock buyback plan on Wednesday, October 31st that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
A number of research firms have recently issued reports on ICE. Zacks Investment Research reissued a “buy” rating and issued a $86.00 target price on shares of Intercontinental Exchange in a report on Tuesday, November 13th. Deutsche Bank boosted their target price on Intercontinental Exchange from $85.00 to $86.00 and gave the company a “buy” rating in a report on Friday. Raymond James boosted their target price on Intercontinental Exchange from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Barclays boosted their target price on Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, November 1st. Finally, Citigroup set a $80.00 target price on Intercontinental Exchange and gave the company a “hold” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $84.50.
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,000 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total value of $5,862,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $80.00, for a total value of $80,000.00. The disclosure for this sale can be found here. Insiders sold 300,625 shares of company stock worth $22,834,370 in the last three months. 1.50% of the stock is owned by corporate insiders.
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About Intercontinental Exchange
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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