Cramer Rosenthal Mcglynn LLC lessened its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 50.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 266,382 shares of the financial services provider’s stock after selling 274,343 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Intercontinental Exchange were worth $18,796,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. MAI Capital Management grew its stake in Intercontinental Exchange by 1.8% during the 4th quarter. MAI Capital Management now owns 44,903 shares of the financial services provider’s stock valued at $3,168,000 after purchasing an additional 783 shares during the last quarter. Iowa State Bank grew its stake in Intercontinental Exchange by 6.0% during the 4th quarter. Iowa State Bank now owns 14,700 shares of the financial services provider’s stock valued at $1,037,000 after purchasing an additional 828 shares during the last quarter. Commerce Bank boosted its stake in shares of Intercontinental Exchange by 3.1% in the third quarter. Commerce Bank now owns 27,381 shares of the financial services provider’s stock worth $1,881,000 after buying an additional 829 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its stake in shares of Intercontinental Exchange by 7.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 12,234 shares of the financial services provider’s stock worth $840,000 after buying an additional 841 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Global X Management Co. LLC now owns 13,084 shares of the financial services provider’s stock worth $923,000 after buying an additional 850 shares during the last quarter. Institutional investors and hedge funds own 90.74% of the company’s stock.
ICE has been the topic of a number of recent research reports. Zacks Investment Research downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. JPMorgan Chase & Co. upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Argus upped their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Bank of America lowered their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $76.62.
Intercontinental Exchange Inc (NYSE:ICE) opened at $75.06 on Wednesday. The firm has a market capitalization of $44,062.20, a PE ratio of 25.74, a P/E/G ratio of 2.65 and a beta of 0.65. Intercontinental Exchange Inc has a fifty-two week low of $57.91 and a fifty-two week high of $76.30. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results 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. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. Intercontinental Exchange’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. analysts forecast that Intercontinental Exchange Inc will post 3.56 earnings per share for the current fiscal year.
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 issued a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. Intercontinental Exchange’s payout ratio is 18.87%.
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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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