United Capital Financial Advisers LLC lowered its stake in Intercontinental Exchange Inc (NYSE:ICE) by 6.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 24,096 shares of the financial services provider’s stock after selling 1,745 shares during the period. United Capital Financial Advisers LLC’s holdings in Intercontinental Exchange were worth $2,071,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Next Capital Management LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $26,000. Carroll Financial Associates Inc. lifted its holdings in shares of Intercontinental Exchange by 51.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 122 shares during the period. Arlington Partners LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $34,000. Sandy Spring Bank lifted its stake in Intercontinental Exchange by 41.8% in the 2nd quarter. Sandy Spring Bank now owns 404 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 119 shares during the last quarter. Finally, Capital Advisors Ltd. LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 89.74% of the company’s stock.
In other news, insider David S. Goone sold 9,405 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $89.01, for a total transaction of $837,139.05. Following the completion of the sale, the insider now directly owns 172,145 shares in the company, valued at $15,322,626.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Charles A. Vice sold 15,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $86.74, for a total transaction of $1,301,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,160 shares of company stock valued at $15,261,966. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc will post 3.77 EPS for the current year.
Several brokerages recently commented on ICE. Citigroup downgraded shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and increased their price objective for the company from $92.00 to $99.00 in a research note on Monday, July 22nd. Oppenheimer began coverage on shares of Intercontinental Exchange in a research note on Monday. They issued an “outperform” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $97.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday. Raymond James increased their price objective on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Friday, July 5th. Finally, FIX began coverage on shares of Intercontinental Exchange in a research note on Monday. They issued an “outperform” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $90.71.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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