Cortland Associates Inc. MO decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 4.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 567,097 shares of the financial services provider’s stock after selling 27,350 shares during the period. Intercontinental Exchange comprises 7.3% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 7th biggest position. Cortland Associates Inc. MO owned approximately 0.10% of Intercontinental Exchange worth $38,960,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Thompson Davis & CO. Inc. increased its holdings in Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after buying an additional 32 shares in the last quarter. IHT Wealth Management LLC increased its holdings in Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares in the last quarter. Norway Savings Bank increased its holdings in 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 in the last quarter. Bessemer Group Inc. increased its holdings in Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in Intercontinental Exchange in the second quarter valued at $128,000. 89.71% of the stock is owned by institutional investors.
In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. Insiders have sold a total of 155,550 shares of company stock valued at $10,394,455 over the last 90 days. 1.50% of the stock is currently owned by insiders.
Shares of Intercontinental Exchange Inc. (NYSE:ICE) traded down 0.20% during mid-day trading on Friday, reaching $65.48. 5,242,764 shares of the company traded hands. The company has a market capitalization of $7.53 billion, a P/E ratio of 24.26 and a beta of 0.74. Intercontinental Exchange Inc. has a 52 week low of $52.27 and a 52 week high of $71.24. The stock’s 50-day moving average is $67.53 and its 200-day moving average is $64.42.
Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the firm posted $0.69 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.
A number of research firms have recently commented on ICE. Wells Fargo & Company boosted their target price on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Barclays PLC boosted their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Royal Bank Of Canada boosted their target price on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $72.33.
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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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