Riverpark Capital Management LLC decreased its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 15.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,254 shares of the financial services provider’s stock after selling 37,691 shares during the quarter. Intercontinental Exchange makes up 2.2% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Riverpark Capital Management LLC’s holdings in Intercontinental Exchange were worth $15,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $380,000. Macquarie Group Ltd. increased its holdings in shares of 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 during the last quarter. AXA increased its holdings in shares of Intercontinental Exchange by 6.8% in the 3rd quarter. AXA now owns 255,959 shares of the financial services provider’s stock valued at $17,585,000 after acquiring an additional 16,304 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Intercontinental Exchange by 17.9% in the 4th quarter. Bank of Montreal Can now owns 563,903 shares of the financial services provider’s stock valued at $39,789,000 after acquiring an additional 85,435 shares during the last quarter. Finally, Greystone Managed Investments Inc. increased its holdings in shares of Intercontinental Exchange by 4.6% in the 3rd quarter. Greystone Managed Investments Inc. now owns 154,743 shares of the financial services provider’s stock valued at $10,631,000 after acquiring an additional 6,736 shares during the last quarter. Institutional investors own 90.74% of the company’s stock.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.55, for a total transaction of $544,125.00. Following the completion of the sale, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,385,521.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total value of $9,698,848.30. Following the sale, the chief executive officer now directly owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The disclosure for this sale can be found here. Insiders have sold a total of 186,201 shares of company stock valued at $13,690,343 over the last ninety days. 1.50% of the stock is owned by insiders.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. equities analysts predict that Intercontinental Exchange Inc will post 3.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.27%. Intercontinental Exchange’s payout ratio is 18.87%.
ICE has been the topic of a number of recent analyst reports. Argus increased their price objective on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, January 3rd. Berenberg Bank started coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price for the company. Bank of America decreased their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their target price for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $76.62.
Intercontinental Exchange 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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