PNC Financial Services Group Inc. trimmed its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,206 shares of the financial services provider’s stock after selling 10,519 shares during the period. PNC Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $13,662,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of ICE. Virtus ETF Advisers LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $26,000. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Engrave Wealth Partners LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $29,000. Smith Asset Management Group LP lifted its stake in Intercontinental Exchange by 350.0% in the 4th quarter. Smith Asset Management Group LP now owns 360 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 280 shares during the last quarter. Finally, Solstein Capital LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $33,000. Institutional investors own 90.40% of the company’s stock.
Several brokerages recently issued reports on ICE. Barclays raised their target price on shares of Intercontinental Exchange from $95.00 to $100.00 in a research note on Friday, May 1st. Wells Fargo & Co raised their target price on shares of Intercontinental Exchange from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Thursday, March 5th. Berenberg Bank raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and increased their price target for the company from $101.00 to $106.00 in a report on Monday, April 20th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $104.00 price target on shares of Intercontinental Exchange in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $102.21.
Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.04. Intercontinental Exchange had a net margin of 29.65% and a return on equity of 13.85%. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange Inc will post 4.49 earnings per share for the current fiscal year.
In related news, CEO Jeffrey C. Sprecher sold 37,232 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 directly owns 1,496,000 shares of the company’s stock, valued at $140,459,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 175,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $87.22, for a total transaction of $15,263,500.00. The disclosure for this sale can be found here. Insiders have sold 216,223 shares of company stock worth $19,123,431 over the last ninety days. Insiders own 1.50% of the company’s stock.
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, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
Read More: What is a management fee?
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.