UNIVEST FINANCIAL Corp decreased its position in Intercontinental Exchange Inc (NYSE:ICE) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,332 shares of the financial services provider’s stock after selling 384 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Intercontinental Exchange were worth $3,786,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtus ETF Advisers LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $26,000. Ellevest Inc. grew its stake in Intercontinental Exchange by 148.7% during the second quarter. Ellevest Inc. now owns 286 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 171 shares in the last quarter. Engrave Wealth Partners LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at $29,000. Fortis Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 1st quarter worth about $33,000. Finally, Golden State Wealth Management LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at about $45,000. Institutional investors own 87.44% of the company’s stock.
ICE has been the subject of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $104.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 1st. Barclays increased their price target on shares of Intercontinental Exchange from $95.00 to $100.00 in a research note on Friday, May 1st. Bank of America reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, March 24th. Wells Fargo & Co raised their target price on Intercontinental Exchange from $95.00 to $101.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Finally, Deutsche Bank reduced their target price on Intercontinental Exchange from $114.00 to $111.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $103.00.
ICE traded down $1.06 during midday trading on Thursday, reaching $92.78. The company’s stock had a trading volume of 19,809 shares, compared to its average volume of 2,612,256. The stock’s 50-day moving average is $94.06 and its 200-day moving average is $91.42. The firm has a market capitalization of $50.66 billion, a price-to-earnings ratio of 25.02, a PEG ratio of 2.51 and a beta of 0.54. Intercontinental Exchange Inc has a 1 year low of $63.51 and a 1 year high of $101.93. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.04. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Intercontinental Exchange had a net margin of 29.65% and a return on equity of 13.85%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange Inc will post 4.49 earnings per share for the current fiscal year.
In other Intercontinental Exchange news, President Benjamin Jackson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $95.03, for a total transaction of $95,030.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,991 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $91.26, for a total transaction of $364,218.66. The disclosure for this sale can be found here. Insiders have sold 10,029 shares of company stock valued at $927,633 in the last quarter. 1.50% of the stock is owned by company insiders.
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.
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