Private Capital Group LLC trimmed its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 17.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,094 shares of the financial services provider’s stock after selling 433 shares during the period. Private Capital Group LLC’s holdings in Intercontinental Exchange were worth $158,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Capital World Investors increased its position in shares of Intercontinental Exchange by 464.9% during the 3rd quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock worth $1,125,712,000 after purchasing an additional 12,370,546 shares during the last quarter. Janus Henderson Group PLC increased its position in Intercontinental Exchange by 5.8% in the third quarter. Janus Henderson Group PLC now owns 12,202,306 shares of the financial services provider’s stock worth $913,835,000 after buying an additional 666,185 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Intercontinental Exchange by 2.2% in the third quarter. Franklin Resources Inc. now owns 4,537,726 shares of the financial services provider’s stock worth $339,832,000 after acquiring an additional 97,722 shares during the period. Senator Investment Group LP raised its position in Intercontinental Exchange by 54.2% during the third quarter. Senator Investment Group LP now owns 3,700,000 shares of the financial services provider’s stock valued at $277,093,000 after purchasing an additional 1,300,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in shares of Intercontinental Exchange by 112.2% in the third quarter. TIAA CREF Investment Management LLC now owns 2,661,565 shares of the financial services provider’s stock worth $199,325,000 after buying an additional 1,407,479 shares during the period. Institutional investors own 89.80% of the company’s stock.
Intercontinental Exchange stock opened at $76.68 on Thursday. The firm has a market cap of $43.29 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 2.05 and a beta of 0.47. Intercontinental Exchange Inc has a 52-week low of $67.70 and a 52-week high of $82.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.275 per share. The ex-dividend date is Friday, September 13th. This represents a $1.10 annualized dividend and a dividend yield of 1.43%. Intercontinental Exchange’s dividend payout ratio is currently 26.74%.
Intercontinental Exchange announced that its Board of Directors has approved a share buyback plan on Wednesday, October 31st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
Several equities analysts recently issued reports on the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Friday, November 30th. Berenberg Bank downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 target price for the company. in a research note on Tuesday, November 20th. Atlantic Securities assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, November 28th. They set an “overweight” rating for the company. Deutsche Bank boosted their target price on shares of Intercontinental Exchange from $85.00 to $86.00 and gave the company a “buy” rating in a report on Friday, November 16th. Finally, Citigroup set a $80.00 target price on shares of Intercontinental Exchange and gave the stock a “hold” rating in a research report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $85.78.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $75.26, for a total value of $2,634,100.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,200 shares of the stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $80.14, for a total value of $96,168.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 108,700 shares of company stock valued at $8,408,568. 1.50% of the stock is owned by corporate insiders.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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