OLD National Bancorp IN continued to hold its stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, Holdings Channel reports. The firm owned 3,790 shares of the financial services provider’s stock at the end of the second quarter. OLD National Bancorp IN’s holdings in Intercontinental Exchange were worth $250,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its position in Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the period. BlackRock Inc. increased its position 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 worth $2,098,452,000 after buying an additional 33,898,484 shares during the period. Wellington Management Group LLP increased its position in Intercontinental Exchange by 2.8% in the first quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after buying an additional 721,080 shares during the period. State Street Corp increased its position in Intercontinental Exchange by 1.9% in the first quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after buying an additional 481,909 shares during the period. Finally, FMR LLC increased its position 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 worth $534,580,000 after buying an additional 1,443,992 shares during the period. 89.44% of the stock is owned by hedge funds and other institutional investors.
Shares of Intercontinental Exchange Inc. (NYSE ICE) opened at 66.58 on Friday. Intercontinental Exchange Inc. has a 12-month low of $52.22 and a 12-month high of $67.33. The firm has a market cap of $7.66 billion, a P/E ratio of 25.71 and a beta of 0.71. The stock has a 50 day moving average price of $64.71 and a 200 day moving average price of $60.50.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Intercontinental Exchange had a return on equity of 10.67% and a net margin of 26.48%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $3.68 earnings per share. Intercontinental Exchange’s revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Intercontinental Exchange Inc. will post $3.01 earnings per share for the current year.
ICE has been the subject of a number of recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Intercontinental Exchange in a research report on Monday, April 10th. Royal Bank Of Canada initiated coverage on Intercontinental Exchange in a research report on Friday, March 31st. They set a “sector perform” rating and a $60.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $65.50 price target on shares of Intercontinental Exchange in a research report on Wednesday, April 12th. 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 for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.49.
In related news, Director Charles R. Crisp sold 3,365 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $58.65, for a total transaction of $197,357.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles A. Vice sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $60.53, for a total value of $907,950.00. Following the sale, the insider now owns 373,061 shares of the company’s stock, valued at approximately $22,581,382.33. The disclosure for this sale can be found here. Insiders have sold 168,889 shares of company stock valued at $10,350,825 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.
About Intercontinental Exchange
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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