Alpha Cubed Investments LLC raised its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 26.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,702 shares of the financial services provider’s stock after acquiring an additional 9,637 shares during the period. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $3,225,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC boosted its holdings in Intercontinental Exchange by 257.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $122,000. Cerebellum GP LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $127,000. Americafirst Capital Management LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at about $145,000. Finally, Penserra Capital Management LLC raised its position in shares of Intercontinental Exchange by 75.8% during the fourth quarter. Penserra Capital Management LLC now owns 2,400 shares of the financial services provider’s stock valued at $169,000 after buying an additional 1,035 shares during the last quarter. Institutional investors own 90.42% of the company’s stock.
In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the completion of the transaction, the insider now owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dean S. Mathison sold 1,042 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total transaction of $78,973.18. Following the completion of the transaction, the insider now directly owns 12,485 shares of the company’s stock, valued at approximately $946,238.15. The disclosure for this sale can be found here. Insiders sold 48,910 shares of company stock valued at $3,579,672 in the last three months. Company insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up .5% compared to the same quarter last year. analysts expect that Intercontinental Exchange Inc will post 3.54 EPS for the current fiscal year.
Intercontinental Exchange declared that its board has initiated a stock buyback program on Thursday, November 2nd that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 18.87%.
A number of brokerages have recently commented on ICE. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, January 3rd. Berenberg Bank began coverage on shares of Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 price objective for the company. UBS Group upped their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Argus upped their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, Citigroup upped their price objective on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $76.08.
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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