Commerce Bank boosted its position in Intercontinental Exchange Inc (NYSE:ICE) by 6.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,249 shares of the financial services provider’s stock after buying an additional 4,748 shares during the quarter. Commerce Bank’s holdings in Intercontinental Exchange were worth $6,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $26,000. Princeton Global Asset Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. Engrave Wealth Partners LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Smith Asset Management Group LP increased its position in Intercontinental Exchange by 350.0% in the fourth quarter. Smith Asset Management Group LP now owns 360 shares of the financial services provider’s stock worth $33,000 after buying an additional 280 shares during the last quarter. Finally, Solstein Capital LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $33,000. 90.40% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on ICE shares. Wells Fargo & Co raised their target price on Intercontinental Exchange from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Citigroup raised their price target on Intercontinental Exchange from $93.00 to $102.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Goldman Sachs Group raised Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating and set a $90.00 price target for the company in a report on Tuesday, March 24th. UBS Group raised their price target on Intercontinental Exchange from $106.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Finally, Bank of America reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, March 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $102.21.
NYSE:ICE opened at $93.77 on Friday. The firm has a market capitalization of $50.82 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 2.54 and a beta of 0.54. Intercontinental Exchange Inc has a 52-week low of $63.51 and a 52-week high of $101.93. The stock has a fifty day moving average of $89.14 and a 200 day moving average of $91.10. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.99 and a current ratio of 0.99.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.04. Intercontinental Exchange had a return on equity of 13.85% and a net margin of 29.65%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue was up 22.8% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange Inc will post 4.49 earnings per share for the current fiscal year.
In other news, CEO Jeffrey C. Sprecher sold 37,232 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $93.89, for a total value of $3,495,712.48. Following the transaction, the chief executive officer now owns 1,496,000 shares in the company, valued at $140,459,440. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,991 shares of Intercontinental Exchange stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $91.26, for a total value of $364,218.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,223 shares of company stock valued at $19,123,431. Corporate insiders own 1.50% of the company’s stock.
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, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
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