Cerity Partners LLC boosted its stake in Intercontinental Exchange Inc (NYSE:ICE) by 22.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,162 shares of the financial services provider’s stock after purchasing an additional 6,232 shares during the quarter. Cerity Partners LLC’s holdings in Intercontinental Exchange were worth $2,573,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in shares of Intercontinental Exchange by 55.2% in the third quarter. Bank of Montreal Can now owns 285,472 shares of the financial services provider’s stock valued at $21,379,000 after purchasing an additional 101,542 shares in the last quarter. First Manhattan Co. grew its holdings in shares of Intercontinental Exchange by 1.2% in the third quarter. First Manhattan Co. now owns 254,358 shares of the financial services provider’s stock valued at $19,048,000 after purchasing an additional 2,975 shares in the last quarter. First Hawaiian Bank acquired a new position in Intercontinental Exchange during the 3rd quarter worth approximately $1,052,000. Raymond James Trust N.A. grew its holdings in Intercontinental Exchange by 9.3% during the 3rd quarter. Raymond James Trust N.A. now owns 10,970 shares of the financial services provider’s stock worth $821,000 after acquiring an additional 935 shares in the last quarter. Finally, Gateway Investment Advisers LLC grew its holdings in Intercontinental Exchange by 3.9% during the 3rd quarter. Gateway Investment Advisers LLC now owns 522,909 shares of the financial services provider’s stock worth $39,161,000 after acquiring an additional 19,689 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.
Several research analysts have commented on ICE shares. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Raymond James boosted their price target on shares of Intercontinental Exchange from $81.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, November 1st. Barclays boosted their price target on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, November 1st. Citigroup set a $80.00 price target on shares of Intercontinental Exchange and gave the stock a “hold” rating in a report on Thursday, November 1st. Finally, Wells Fargo & Co boosted their price target on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “market perform” rating in a report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $85.78.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Intercontinental Exchange had a net margin of 31.68% and a return on equity of 12.23%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, equities research analysts forecast that Intercontinental Exchange Inc will post 3.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.10 annualized dividend and a dividend yield of 1.43%. Intercontinental Exchange’s dividend payout ratio is presently 26.74%.
Intercontinental Exchange announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 31st that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, Vice Chairman Charles A. Vice sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $75.26, for a total transaction of $2,634,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $80.14, for a total transaction of $96,168.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,700 shares of company stock valued at $8,408,568 in the last 90 days. Insiders own 1.50% of the company’s stock.
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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