NorthCoast Asset Management LLC Has $15.50 Million Position in Intercontinental Exchange Inc (ICE)

NorthCoast Asset Management LLC boosted its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 6,546.9% during the 4th quarter, HoldingsChannel reports. The fund owned 219,614 shares of the financial services provider’s stock after buying an additional 216,310 shares during the period. NorthCoast Asset Management LLC’s holdings in Intercontinental Exchange were worth $15,496,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its position in Intercontinental Exchange by 14.6% in the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock valued at $712,683,000 after acquiring an additional 1,325,290 shares in the last quarter. Capital International Investors lifted its position in Intercontinental Exchange by 15.6% in the 3rd quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares in the last quarter. Alkeon Capital Management LLC lifted its position in Intercontinental Exchange by 0.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 3,232,945 shares of the financial services provider’s stock valued at $222,104,000 after acquiring an additional 10,000 shares in the last quarter. APG Asset Management N.V. lifted its position in Intercontinental Exchange by 0.9% in the 3rd quarter. APG Asset Management N.V. now owns 3,183,077 shares of the financial services provider’s stock valued at $218,677,000 after acquiring an additional 28,300 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Intercontinental Exchange by 0.9% in the 3rd quarter. Macquarie Group Ltd. now owns 2,915,546 shares of the financial services provider’s stock valued at $200,298,000 after acquiring an additional 24,797 shares in the last quarter. 90.14% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $71.93, for a total value of $539,475.00. Following the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,151,489.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dean S. Mathison sold 1,042 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total value of $78,973.18. Following the completion of the transaction, the insider now directly owns 12,485 shares in the company, valued at $946,238.15. The disclosure for this sale can be found here. Insiders have sold a total of 48,910 shares of company stock worth $3,579,672 over the last three months. Insiders own 1.50% of the company’s stock.

ICE has been the topic of several analyst reports. Barclays upped their price objective on Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Royal Bank of Canada increased their price target on Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Citigroup increased their price target on Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 19th. UBS Group increased their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Argus increased their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.73.

Intercontinental Exchange Inc (ICE) opened at $70.40 on Tuesday. The firm has a market capitalization of $41,830.00, a price-to-earnings ratio of 26.00, a PEG ratio of 2.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc has a twelve month low of $56.80 and a twelve month high of $76.14.

Intercontinental Exchange declared that its Board of Directors has approved a share buyback program on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

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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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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