Cramer Rosenthal Mcglynn LLC lowered its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 50.7% in the fourth quarter, Holdings Channel reports. The fund owned 266,382 shares of the financial services provider’s stock after selling 274,343 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Intercontinental Exchange were worth $18,796,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ICE. BlackRock Inc. raised its holdings in shares of Intercontinental Exchange by 6.0% during the fourth quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock valued at $2,629,892,000 after acquiring an additional 2,104,818 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Intercontinental Exchange by 14.6% during the third quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock valued at $712,683,000 after acquiring an additional 1,325,290 shares during the last quarter. Capital International Investors raised its holdings in shares of Intercontinental Exchange by 15.6% during the third quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock valued at $398,504,000 after acquiring an additional 557,332 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Intercontinental Exchange by 90.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,121,790 shares of the financial services provider’s stock valued at $79,154,000 after acquiring an additional 533,100 shares during the last quarter. 90.74% of the stock is owned by institutional investors and hedge funds.
ICE has been the subject of a number of research analyst reports. Argus increased their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a report on Wednesday, January 3rd. Berenberg Bank initiated coverage on Intercontinental Exchange in a report on Thursday, January 25th. They set a “buy” rating and a $90.00 target price for the company. Bank of America dropped their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and upped their price target for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $76.62.
Shares of Intercontinental Exchange Inc (ICE) opened at $75.06 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $44,062.20, a P/E ratio of 25.74, a PEG ratio of 2.65 and a beta of 0.65. Intercontinental Exchange Inc has a 52-week low of $57.91 and a 52-week high of $76.30.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 earnings per share. sell-side analysts predict that Intercontinental Exchange Inc will post 3.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.28%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 18.87%.
Intercontinental Exchange 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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