Bluefin Capital Management LLC acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 4,400 shares of the financial services provider’s stock, valued at approximately $491,000.
Other hedge funds also recently bought and sold shares of the company. Alpha Paradigm Partners LLC bought a new position in Intercontinental Exchange in the 1st quarter worth approximately $26,000. GPS Wealth Strategies Group LLC bought a new stake in Intercontinental Exchange during the 1st quarter worth about $26,000. Concord Wealth Partners bought a new stake in Intercontinental Exchange during the 4th quarter worth about $29,000. Reilly Financial Advisors LLC raised its position in shares of Intercontinental Exchange by 68.0% during the 1st quarter. Reilly Financial Advisors LLC now owns 252 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 102 shares during the last quarter. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Intercontinental Exchange by 743.3% in the 1st quarter. Pinnacle Bancorp Inc. now owns 253 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
A number of analysts recently commented on ICE shares. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a research report on Wednesday, June 23rd. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Monday, April 19th. Rosenblatt Securities lifted their price target on shares of Intercontinental Exchange from $133.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Morgan Stanley started coverage on shares of Intercontinental Exchange in a research report on Friday, June 11th. They issued an “equal weight” rating and a $122.00 price objective on the stock. Finally, Raymond James upped their price objective on Intercontinental Exchange from $133.00 to $136.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 6th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $124.58.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 29th. The financial services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.04. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Intercontinental Exchange had a return on equity of 13.50% and a net margin of 24.36%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 4.98 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.10%. The ex-dividend date was Tuesday, June 15th. Intercontinental Exchange’s dividend payout ratio (DPR) is 29.27%.
In other Intercontinental Exchange news, Director William Jefferson Hague sold 675 shares of Intercontinental Exchange stock in a transaction on Wednesday, May 19th. The stock was sold at an average price of $110.00, for a total value of $74,250.00. Following the completion of the transaction, the director now directly owns 15,270 shares of the company’s stock, valued at approximately $1,679,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,977 shares of Intercontinental Exchange stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $117.77, for a total value of $232,831.29. Following the completion of the transaction, the chief accounting officer now directly owns 20,948 shares of the company’s stock, valued at $2,467,045.96. The disclosure for this sale can be found here. Insiders sold a total of 113,147 shares of company stock valued at $12,785,325 in the last quarter. Corporate insiders own 1.30% of the company’s stock.
Intercontinental Exchange 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, 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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