Intercontinental Exchange Inc (ICE) Stake Lowered by Great West Life Assurance Co. Can

Intercontinental Exchange Inc (ICE) Stake Lowered by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can lowered its position in Intercontinental Exchange Inc (NYSE:ICE) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 579,428 shares of the financial services provider’s stock after selling 9,737 shares during the period. Great West Life Assurance Co. Can owned 0.50% of Intercontinental Exchange worth $34,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BB&T Securities LLC raised its position in shares of Intercontinental Exchange by 2.3% in the third quarter. BB&T Securities LLC now owns 1,590 shares of the financial services provider’s stock worth $428,000 after buying an additional 36 shares during the period. Emerald Advisers Inc. PA increased its stake in Intercontinental Exchange by 0.3% in the first quarter. Emerald Advisers Inc. PA now owns 12,720 shares of the financial services provider’s stock worth $762,000 after buying an additional 39 shares in the last quarter. Citizens Financial Group Inc RI increased its stake in Intercontinental Exchange by 6.2% in the third quarter. Citizens Financial Group Inc RI now owns 992 shares of the financial services provider’s stock worth $267,000 after buying an additional 58 shares in the last quarter. Arizona State Retirement System increased its stake in Intercontinental Exchange by 0.3% in the third quarter. Arizona State Retirement System now owns 29,293 shares of the financial services provider’s stock worth $7,890,000 after buying an additional 100 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in Intercontinental Exchange by 0.8% in the third quarter. Advantus Capital Management Inc now owns 11,986 shares of the financial services provider’s stock worth $3,229,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 28.85% of the company’s stock.

Shares of Intercontinental Exchange Inc (NYSE:ICE) traded down 0.67% during trading on Friday, reaching $60.46. 2,152,778 shares of the company traded hands. The firm has a 50-day moving average price of $60.20 and a 200-day moving average price of $57.79. The firm has a market capitalization of $6.96 billion, a PE ratio of 25.51 and a beta of 0.96. Intercontinental Exchange Inc has a 12 month low of $48.15 and a 12 month high of $61.98.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The firm earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Intercontinental Exchange had a net margin of 23.87% and a return on equity of 10.79%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.68 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc will post $3.00 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, June 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 28.64%.

ICE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, March 8th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $63.50 price objective on shares of Intercontinental Exchange in a report on Thursday, March 23rd. Jefferies Group LLC reissued a “buy” rating and set a $70.00 price objective on shares of Intercontinental Exchange in a report on Monday, April 10th. Finally, Royal Bank of Canada initiated coverage on shares of Intercontinental Exchange in a report on Friday, March 31st. They set a “sector perform” rating and a $60.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $62.09.

In other Intercontinental Exchange news, insider Thomas W. Farley sold 31,200 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $59.34, for a total value of $1,851,408.00. Following the completion of the sale, the insider now directly owns 112,798 shares in the company, valued at $6,693,433.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $60.53, for a total transaction of $907,950.00. Following the completion of the sale, the insider now owns 373,061 shares of the company’s stock, valued at $22,581,382.33. The disclosure for this sale can be found here. Insiders sold 158,750 shares of company stock valued at $9,501,837 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

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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