Peregrine Capital Management LLC Cuts Stock Holdings in Intercontinental Exchange Inc (NYSE:ICE)
Peregrine Capital Management LLC trimmed its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 13.8% during the second quarter, HoldingsChannel reports. The firm owned 154,633 shares of the financial services provider’s stock after selling 24,810 shares during the quarter. Peregrine Capital Management LLC’s holdings in Intercontinental Exchange were worth $14,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Guggenheim Capital LLC raised its stake in shares of Intercontinental Exchange by 19.7% during the 4th quarter. Guggenheim Capital LLC now owns 208,393 shares of the financial services provider’s stock worth $19,287,000 after purchasing an additional 34,229 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $14,646,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $831,000. Quadrant Capital Group LLC raised its stake in shares of Intercontinental Exchange by 12.9% during the 4th quarter. Quadrant Capital Group LLC now owns 4,095 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 468 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth $987,000. Institutional investors own 87.47% of the company’s stock.
In other news, CEO Jeffrey C. Sprecher sold 100,000 shares of the business’s stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $95.54, for a total transaction of $9,554,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 733 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $96.32, for a total value of $70,602.56. The disclosure for this sale can be found here. Insiders have sold 111,486 shares of company stock valued at $10,632,325 in the last three months. 1.50% of the stock is owned by insiders.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Intercontinental Exchange had a return on equity of 14.14% and a net margin of 29.01%. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange Inc will post 4.42 EPS for the current fiscal year.
A number of equities research analysts have recently commented on the company. Barclays lifted their target price on Intercontinental Exchange from $95.00 to $100.00 in a research note on Friday, May 1st. Rosenblatt Securities lifted their target price on Intercontinental Exchange from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank lowered their price objective on Intercontinental Exchange from $114.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $98.00 to $101.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup boosted their price objective on Intercontinental Exchange from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Monday, July 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.64.
About Intercontinental Exchange
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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