Schmidt P J Investment Management Inc. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,525 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Intercontinental Exchange were worth $1,023,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Norway Savings Bank increased its stake in shares of Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares during the period. Guardian Life Insurance Co. of America increased its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after buying an additional 16 shares during the period. Clearbridge Investments LLC increased its stake in shares of Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock valued at $140,000 after buying an additional 1,265 shares during the period. Parallel Advisors LLC increased its stake in shares of Intercontinental Exchange by 45.3% in the first quarter. Parallel Advisors LLC now owns 2,400 shares of the financial services provider’s stock valued at $145,000 after buying an additional 748 shares during the period. Finally, Howard Hughes Medical Institute purchased a new stake in shares of Intercontinental Exchange during the first quarter valued at about $182,000. Institutional investors own 89.38% of the company’s stock.
Intercontinental Exchange Inc. (ICE) traded down 1.38% on Thursday, reaching $65.15. 1,678,157 shares of the company’s stock traded hands. The company’s 50 day moving average is $65.88 and its 200-day moving average is $61.69. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $67.48. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 24.14 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Equities analysts expect that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.
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Several brokerages recently issued reports on ICE. Deutsche Bank AG reiterated a “buy” rating and issued a $66.00 target price (down from $67.00) on shares of Intercontinental Exchange in a research note on Monday, May 15th. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 target price on shares of Intercontinental Exchange in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, July 13th. Finally, BidaskClub downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $68.36.
In other news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total value of $836,625.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $60.37, for a total transaction of $905,550.00. Following the completion of the sale, the insider now directly owns 384,971 shares in the company, valued at approximately $23,240,699.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,024 shares of company stock worth $9,732,522. Corporate insiders own 1.50% of the company’s stock.
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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