Calamos Wealth Management LLC trimmed its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 88,325 shares of the financial services provider’s stock after selling 1,359 shares during the period. Calamos Wealth Management LLC’s holdings in Intercontinental Exchange were worth $6,232,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $109,000. Valeo Financial Advisors LLC boosted its stake in shares of Intercontinental Exchange by 257.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,172 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $122,000. Cerebellum GP LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $127,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $145,000. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Jeffrey C. Sprecher sold 132,245 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.34, for a total transaction of $9,698,848.30. Following the transaction, the chief executive officer now directly owns 1,454,661 shares in the company, valued at approximately $106,684,837.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dean S. Mathison sold 1,042 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total transaction of $78,973.18. Following the transaction, the insider now owns 12,485 shares in the company, valued at $946,238.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,655 shares of company stock worth $13,460,395. Insiders own 1.50% of the company’s stock.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. research analysts anticipate that Intercontinental Exchange Inc will post 3.56 earnings per share for the current year.
Intercontinental Exchange declared that its board has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.31%. Intercontinental Exchange’s payout ratio is currently 27.21%.
Several research firms have issued reports on ICE. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. raised shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $76.00 to $83.00 in a research note on Tuesday, February 20th. Berenberg Bank began coverage on shares of Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 price target on the stock. UBS Group raised their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Finally, Argus raised their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $76.62.
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Intercontinental Exchange Company 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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