Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 3,660,000 shares, a decline of 17.0% from the March 31st total of 4,410,000 shares. Based on an average daily trading volume, of 2,310,000 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.7% of the company’s stock are sold short.
In other news, CFO Scott A. Hill sold 17,095 shares of the firm’s stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $120.07, for a total transaction of $2,052,596.65. Following the sale, the chief financial officer now owns 160,490 shares of the company’s stock, valued at approximately $19,270,034.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lynn C. Martin sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $120.00, for a total value of $300,000.00. The disclosure for this sale can be found here. Insiders have sold 50,831 shares of company stock worth $5,858,653 over the last 90 days. Insiders own 1.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ICE. Magellan Asset Management Ltd grew its stake in shares of Intercontinental Exchange by 54.8% during the 4th quarter. Magellan Asset Management Ltd now owns 18,201,606 shares of the financial services provider’s stock worth $2,098,463,000 after purchasing an additional 6,446,916 shares during the period. Norges Bank acquired a new position in Intercontinental Exchange during the fourth quarter worth about $597,561,000. Morgan Stanley increased its holdings in Intercontinental Exchange by 39.4% in the fourth quarter. Morgan Stanley now owns 13,619,388 shares of the financial services provider’s stock valued at $1,570,179,000 after buying an additional 3,851,221 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Intercontinental Exchange by 10.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,133,691 shares of the financial services provider’s stock valued at $1,742,502,000 after acquiring an additional 1,467,468 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its stake in shares of Intercontinental Exchange by 46.5% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,149,065 shares of the financial services provider’s stock worth $363,056,000 after acquiring an additional 999,237 shares in the last quarter. 87.42% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 29th. The financial services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.04. Intercontinental Exchange had a net margin of 26.19% and a return on equity of 13.63%. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange will post 4.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, June 15th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 34.02%.
Several equities research analysts recently commented on ICE shares. Raymond James lifted their price target on shares of Intercontinental Exchange from $133.00 to $136.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 6th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Monday, April 19th. Barclays increased their price objective on Intercontinental Exchange from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, January 12th. Rosenblatt Securities lifted their target price on shares of Intercontinental Exchange from $133.00 to $134.00 and gave the company a “buy” rating in a report on Friday. Finally, Oppenheimer reiterated a “hold” rating on shares of Intercontinental Exchange in a research note on Monday, January 25th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.50.
About Intercontinental Exchange
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, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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