Jennison Associates LLC reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260,278 shares of the financial services provider’s stock after selling 69,044 shares during the period. Jennison Associates LLC owned 1.10% of Intercontinental Exchange worth $83,078,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of ICE. Norway Savings Bank raised 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 worth $108,000 after buying an additional 235 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,240 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $128,000. Guardian Life Insurance Co. of America raised 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 worth $138,000 after buying an additional 16 shares in the last quarter. Finally, Clearbridge Investments LLC raised 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 worth $140,000 after buying an additional 1,265 shares in the last quarter. Hedge funds and other institutional investors own 89.38% of the company’s stock.
Intercontinental Exchange Inc. (NYSE:ICE) opened at 64.55 on Tuesday. The stock’s 50 day moving average is $65.80 and its 200 day moving average is $61.84. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The company has a market cap of $7.43 billion, a P/E ratio of 23.92 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm posted $0.69 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.
A number of brokerages have weighed in on ICE. Deutsche Bank AG restated a “buy” rating and issued a $66.00 target price (down previously from $67.00) on shares of Intercontinental Exchange in a research report 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 report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $70.00 target price on shares of Intercontinental Exchange in a research report 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 on the stock in a research report on Thursday, July 13th. Finally, BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research 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 target price of $68.36.
In related news, Director William Jefferson Hague sold 1,150 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.94, for a total transaction of $68,931.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 73,374 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.91, for a total transaction of $4,395,836.34. The disclosure for this sale can be found here. Insiders have sold a total of 157,024 shares of company stock worth $9,732,522 over the last three months. 1.50% of the stock is currently owned by 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.
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
