Synovus Financial Corp raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,052 shares of the financial services provider’s stock after buying an additional 602 shares during the period. Synovus Financial Corp’s holdings in Intercontinental Exchange were worth $532,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in ICE. Norway Savings Bank increased its stake in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 235 shares during the period. Bessemer Group Inc. increased its stake in Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,240 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $128,000. Guardian Life Insurance Co. of America boosted its holdings in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 16 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 89.74% of the company’s stock.
In other Intercontinental Exchange news, CFO Scott A. Hill sold 17,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $65.00, for a total value of $1,105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the completion of the sale, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders sold 137,420 shares of company stock valued at $8,987,176 over the last quarter. Corporate insiders own 1.50% of the company’s stock.
A number of analysts recently commented on the stock. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank Of Canada restated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Barclays PLC assumed coverage on shares of Intercontinental Exchange in a research report on Friday, September 8th. They set an “overweight” rating and a $72.00 target price for the company. BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price target (up previously from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $68.81.
Shares of Intercontinental Exchange Inc. (ICE) traded down 0.98% during mid-day trading on Friday, hitting $65.53. 714,088 shares of the company’s stock were exchanged. Intercontinental Exchange Inc. has a 52 week low of $52.27 and a 52 week high of $67.48. The firm has a 50 day moving average price of $65.43 and a 200-day moving average price of $62.63. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 24.28 and a beta of 0.72.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. Intercontinental Exchange’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post $2.94 EPS for the current year.
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Intercontinental Exchange Company 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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