California State Teachers Retirement System reduced its position in Intercontinental Exchange Inc (NYSE:ICE) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 996,864 shares of the financial services provider’s stock after selling 5,373 shares during the quarter. California State Teachers Retirement System’s holdings in Intercontinental Exchange were worth $70,339,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its holdings in shares of Intercontinental Exchange by 491.0% in the 4th quarter. Two Sigma Investments LP now owns 15,641 shares of the financial services provider’s stock valued at $1,104,000 after buying an additional 19,641 shares in the last quarter. HPM Partners LLC boosted its holdings in shares of Intercontinental Exchange by 16.5% in the 4th quarter. HPM Partners LLC now owns 20,815 shares of the financial services provider’s stock valued at $1,469,000 after buying an additional 2,949 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $4,198,000. Franklin Resources Inc. boosted its holdings in shares of Intercontinental Exchange by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 4,178,528 shares of the financial services provider’s stock valued at $294,837,000 after buying an additional 288,540 shares in the last quarter. Finally, Ironvine Capital Partners LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 90.74% of the company’s stock.
In related news, insider Thomas W. Farley sold 18,046 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $73.97, for a total value of $1,334,862.62. Following the completion of the sale, the insider now directly owns 86,293 shares in the company, valued at approximately $6,383,093.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dean S. Mathison sold 1,042 shares of the firm’s stock in a transaction that occurred on 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 directly owns 12,485 shares of the company’s stock, valued at $946,238.15. The disclosure for this sale can be found here. Insiders sold a total of 186,201 shares of company stock valued at $13,690,343 over the last quarter. 1.50% of the stock is owned by company insiders.
Intercontinental Exchange (NYSE:ICE) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. Intercontinental Exchange’s revenue for the quarter was up .5% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. analysts anticipate that Intercontinental Exchange Inc will post 3.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 27.21%.
A number of analysts have recently weighed in on ICE shares. Argus restated a “buy” rating and issued a $67.00 price target (down from $80.00) on shares of Intercontinental Exchange in a report on Friday, February 9th. Bank of America lowered their price target on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Berenberg Bank started coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price target on the stock. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and raised their price target for the company from $76.00 to $83.00 in a report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.62.
About Intercontinental Exchange
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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