CIBC Asset Management Inc grew its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 45.0% during the 1st quarter, HoldingsChannel reports. The firm owned 96,947 shares of the financial services provider’s stock after acquiring an additional 30,094 shares during the period. CIBC Asset Management Inc’s holdings in Intercontinental Exchange were worth $7,382,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of ICE. Intercontinental Wealth Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Gradient Investments LLC boosted its position in shares of Intercontinental Exchange by 432.8% in the 4th quarter. Gradient Investments LLC now owns 357 shares of the financial services provider’s stock worth $27,000 after buying an additional 290 shares in the last quarter. Ruggie Capital Group purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $29,000. Sontag Advisory LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $34,000. Finally, Highwater Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $35,000. Institutional investors own 90.94% of the company’s stock.
In other news, Vice Chairman Charles A. Vice sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $77.32, for a total transaction of $1,933,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 1,455 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $80.49, for a total transaction of $117,112.95. Following the transaction, the president now directly owns 76,749 shares of the company’s stock, valued at approximately $6,177,527.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,457 shares of company stock valued at $16,327,598. Corporate insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Intercontinental Exchange had a net margin of 31.98% and a return on equity of 12.22%. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc will post 3.73 EPS for the current year.
Several research firms recently commented on ICE. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday. Bank of America set a $85.00 target price on shares of Intercontinental Exchange and gave the company a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Wells Fargo & Co boosted their target price on shares of Intercontinental Exchange from $79.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank cut their target price on shares of Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $85.55.
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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, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.
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