Nordea Investment Management AB cut its stake in shares of IntercontinentalExchange Group Inc. (NYSE:ICE) by 37.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 635,500 shares of the company’s stock after selling 375,215 shares during the period. Nordea Investment Management AB’s holdings in IntercontinentalExchange Group were worth $171,178,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in ICE. Point72 Asia Hong Kong Ltd purchased a new position in IntercontinentalExchange Group during the second quarter valued at about $102,000. LSV Asset Management bought a new position in shares of IntercontinentalExchange Group during the second quarter valued at $116,000. Johnson Financial Group Inc. raised its position in shares of IntercontinentalExchange Group by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock valued at $120,000 after buying an additional 324 shares in the last quarter. WFG Advisors LP raised its position in shares of IntercontinentalExchange Group by 23.8% in the second quarter. WFG Advisors LP now owns 618 shares of the company’s stock valued at $158,000 after buying an additional 119 shares in the last quarter. Finally, Seven Bridges Advisors LLC bought a new position in shares of IntercontinentalExchange Group during the third quarter valued at $164,000. Institutional investors and hedge funds own 17.94% of the company’s stock.
Shares of IntercontinentalExchange Group Inc. (NYSE:ICE) opened at 57.31 on Thursday. IntercontinentalExchange Group Inc. has a 12 month low of $45.44 and a 12 month high of $59.86. The firm has a 50-day moving average of $57.46 and a 200-day moving average of $55.16. The company has a market capitalization of $6.59 billion, a P/E ratio of 23.48 and a beta of 0.90.
IntercontinentalExchange Group (NYSE:ICE) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.22 by $0.01. The firm earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. IntercontinentalExchange Group had a net margin of 25.29% and a return on equity of 10.57%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. On average, equities analysts predict that IntercontinentalExchange Group Inc. will post $2.75 earnings per share for the current year.
Several brokerages have recently weighed in on ICE. Jefferies Group upped their price objective on shares of IntercontinentalExchange Group from $62.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, December 20th. Evercore ISI reiterated a “buy” rating and set a $63.00 price objective on shares of IntercontinentalExchange Group in a report on Saturday, December 17th. Finally, Zacks Investment Research upgraded shares of IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $60.27.
In other news, insider Charles A. Vice sold 5,000 shares of IntercontinentalExchange Group stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $57.08, for a total transaction of $285,400.00. Following the transaction, the insider now owns 304,915 shares in the company, valued at approximately $17,404,548.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William Jefferson Hague sold 600 shares of IntercontinentalExchange Group stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $58.07, for a total value of $34,842.00. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
IntercontinentalExchange Group 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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