Montag & Caldwell LLC lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,615,342 shares of the financial services provider’s stock after selling 116,283 shares during the period. Intercontinental Exchange comprises 3.4% of Montag & Caldwell LLC’s portfolio, making the stock its 9th largest holding. Montag & Caldwell LLC owned approximately 0.27% of Intercontinental Exchange worth $110,974,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Intercontinental Exchange by 2.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 87,510 shares of the financial services provider’s stock valued at $6,012,000 after purchasing an additional 2,102 shares during the period. BT Investment Management Ltd grew its holdings in Intercontinental Exchange by 1.6% in the third quarter. BT Investment Management Ltd now owns 1,498,627 shares of the financial services provider’s stock valued at $102,956,000 after purchasing an additional 23,499 shares during the period. Syntal Capital Partners LLC grew its holdings in Intercontinental Exchange by 13.1% in the third quarter. Syntal Capital Partners LLC now owns 9,414 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,088 shares during the period. Channing Capital Management LLC grew its holdings in Intercontinental Exchange by 0.6% in the third quarter. Channing Capital Management LLC now owns 204,847 shares of the financial services provider’s stock valued at $14,073,000 after purchasing an additional 1,234 shares during the period. Finally, Andra AP fonden grew its holdings in Intercontinental Exchange by 7.8% in the third quarter. Andra AP fonden now owns 116,000 shares of the financial services provider’s stock valued at $7,969,000 after purchasing an additional 8,400 shares during the period. 89.88% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $65.00 to $70.00 in a report on Thursday, July 13th. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Barclays PLC assumed coverage on shares of Intercontinental Exchange in a research note on Friday, September 8th. They set an “overweight” rating and a $72.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued 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 seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $73.30.
In related news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the completion of the transaction, the insider now owns 382,471 shares in the company, valued at approximately $24,600,534.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Hill sold 37,630 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 143,050 shares of company stock valued at $9,557,830 in the last quarter. 1.50% of the stock is currently owned by insiders.
Intercontinental Exchange Inc. (NYSE ICE) traded down $0.33 during trading on Monday, hitting $65.91. 419,940 shares of the stock traded hands, compared to its average volume of 3,550,000. The company has a market capitalization of $38,750.00, a price-to-earnings ratio of 22.68, a P/E/G ratio of 2.41 and a beta of 0.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc. has a fifty-two week low of $53.27 and a fifty-two week high of $71.24.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 earnings per share. research analysts expect that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current year.
Intercontinental Exchange declared that its board has authorized a stock buyback plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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