Arcadia Investment Management Corp MI lessened its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 4.6% in the 4th quarter, Holdings Channel reports. The firm owned 123,765 shares of the financial services provider’s stock after selling 5,970 shares during the quarter. Intercontinental Exchange makes up approximately 3.1% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 4th largest position. Arcadia Investment Management Corp MI’s holdings in Intercontinental Exchange were worth $9,323,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ICE. Nisa Investment Advisors LLC raised its holdings in Intercontinental Exchange by 3.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 176,190 shares of the financial services provider’s stock valued at $13,272,000 after acquiring an additional 5,495 shares in the last quarter. Oakbrook Investments LLC grew its stake in shares of Intercontinental Exchange by 0.6% in the 4th quarter. Oakbrook Investments LLC now owns 37,890 shares of the financial services provider’s stock valued at $2,854,000 after purchasing an additional 225 shares during the period. Hotaling Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $1,526,000. Norway Savings Bank grew its stake in shares of Intercontinental Exchange by 8.2% in the 4th quarter. Norway Savings Bank now owns 4,925 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 375 shares during the period. Finally, Community Trust & Investment Co. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $6,567,000. 88.87% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Monday. Goldman Sachs Group lowered Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a research report on Friday, January 4th. Atlantic Securities initiated coverage on Intercontinental Exchange in a research report on Wednesday, November 28th. They set an “overweight” rating on the stock. Berenberg Bank lowered Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 price target on the stock. in a research report on Tuesday, November 20th. Finally, Deutsche Bank increased their price target on Intercontinental Exchange from $85.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $84.50.
Shares of ICE stock traded up $0.29 during trading hours on Thursday, reaching $74.80. The company had a trading volume of 212,101 shares, compared to its average volume of 2,624,085. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market cap of $41.87 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. Intercontinental Exchange Inc has a 1-year low of $66.92 and a 1-year high of $82.65.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. Research analysts anticipate that Intercontinental Exchange Inc will post 3.55 earnings per share for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has approved a stock buyback program on Wednesday, October 31st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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