Watch Point Trust Co raised its participations in Intercontinental Exchange Inc (NYSE: ICE) shares by 48.3% during the second quarter, according to the most recent disclosure at the SEC. The fund owned 20,119 shares in the shares of the financial service provider after the purchase of 6,654 additional shares during the period. Watch Point Trust Co.'s interests in Intercontinental Exchange were worth $ 1,479,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Two Sigma Investments LP expanded its participations in Intercontinental Exchange shares by 491.0% in the fourth quarter. Two Sigma Investments LP now owns 15,651 shares in the financial services company's share capital with a value of $ 1,104,000 after acquiring 19,961 additional shares in the last quarter. Envestnet Asset Management Inc. increased its exposure to Intercontinental Exchange shares by 7.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 85,542 shares of the financial services company's shares worth $ 6,037,000 after the purchase of 5,976 additional shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Intercontinental Exchange shares by 10.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 8,944 shares in the financial services company's shares worth $ 631,000 after the purchase of another 813 shares in the last quarter. Global X Management Co. LLC increased its position in Intercontinental Exchange by 5.9% in the first quarter. Global X Management Co. LLC now holds 13,859 shares in the financial services company's share capital with a value of $ 1,005,000 after the purchase of another 775 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Intercontinental Exchange in the first quarter of 9.0%. Daiwa Securities Group Inc. now owns 133,883 shares in the share capital of the financial services provider with a value of $ 9,709,000 after the purchase of another 11,021 shares in the last quarter. Institutional investors own 88.90% of the company's shares.
In other news: director William Jefferson Hague sold 1,010 shares of Intercontinental Exchange shares in a transaction on Thursday 24 May. The shares were sold at an average price of $ 71.14, for a total value of $ 71,851.40. The sale has been published in a document submitted to the SEC, which is accessible via the SEC website. President Benjamin Jackson also sold 3,395 shares of Intercontinental Exchange shares in a transaction on Friday, June 15th. The shares were sold at an average price of $ 74.07 for a total transaction of $ 251.467.65. The information for this sale can be found here. In the past three months, insiders have sold 125,603 shares in company shares with a value of $ 9,281,267. 1.50% of the shares are currently held by insiders of companies.
A number of research analysts have recently released reports about the company. Wells Fargo & Co has reaffirmed a "market performance" rating and a price target of $ 80.00 (higher than $ 74.00) on Intercontinental Exchange shares recorded in a study letter on Monday, July 9. ValuEngine lowered Intercontinental Exchange from a "buy" rating to a "hold" rating in a research report on Saturday, June 16. Barclays strengthened its price target on Intercontinental Exchange shares from $ 80.00 to $ 82.00 and gave the share an "overweight" rating in a report on Thursday, July 12. Zacks Investment Research reduced Intercontinental Exchange shares from a "buy" rating to a "hold" rating in a study letter on Wednesday, July 11th. Finally, Citigroup increased its price target on Intercontinental Exchange's share price from $ 76.00 to $ 80.00 and gave the company a "neutral" rating on Wednesday, July 18 in a research report. Four equity research analysts assessed the shares with a hold rating and twelve gave a buy rating to the company. The stock currently has an average rating of "Buy" and a consensus target price of $ 80.00.
NYSE ICE opened Wednesday at $ 73.14. The company has a market capitalization of $ 42.46 billion, a PE ratio of 25.02, a price-earnings ratio of 2.16 and a beta of 0.64. Intercontinental Exchange Inc has a low of 52 weeks of $ 63.93 and a height of 52 weeks of $ 77.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.98 and a current ratio of 0.98.
Intercontinental Exchange (NYSE: ICE) last announced its earnings on Thursday 2 August. The financial services provider reported earnings per share of $ 0.90 this quarter, thus striking Thomson Reuters' consensus estimate of $ 0.89 with $ 0.01. The company had sales of $ 1.25 billion during the quarter compared to the $ 1.24 billion consensus estimate. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. Intercontinental Exchange revenues increased by 5.6% compared to the same quarter last year. In the same period last year, the company earned $ 0.75 earnings per share. stock analysts predict that Intercontinental Exchange Inc will earn 3.48 per share for the current year.
About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses and locations for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel and Canada. It works through two segments Trading and Clearing; and data and offers. The company manages marketplaces to record, trade and clear a range of derivative and securities contracts in various asset classes, including energy and agricultural products, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds and currencies.
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