Atlantic Trust Group LLC Increases Position in Intercontinental Exchange Inc (ICE)
Atlantic Trust Group LLC increased its holdings in Intercontinental Exchange Inc (NYSE:ICE) by 16.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,072,080 shares of the financial services provider’s stock after purchasing an additional 290,216 shares during the period. Atlantic Trust Group LLC’s holdings in Intercontinental Exchange were worth $150,267,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC increased its position in Intercontinental Exchange by 1.1% in the fourth quarter. Lazard Asset Management LLC now owns 6,126,380 shares of the financial services provider’s stock worth $432,276,000 after purchasing an additional 63,944 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Intercontinental Exchange in the fourth quarter worth $2,275,000. Bishop Rock Capital L.P. increased its position in Intercontinental Exchange by 16.1% in the first quarter. Bishop Rock Capital L.P. now owns 71,792 shares of the financial services provider’s stock worth $5,206,000 after purchasing an additional 9,981 shares during the last quarter. Lake Street Advisors Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $236,000. Finally, Barings LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $445,000. Institutional investors own 89.03% of the company’s stock.
ICE has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $76.00 to $83.00 in a research report on Tuesday, February 20th. Zacks Investment Research cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Deutsche Bank boosted their price target on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Finally, Sanford C. Bernstein initiated coverage on shares of Intercontinental Exchange in a research report on Monday, April 9th. They issued an “outperform” rating and a $85.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $78.36.
Intercontinental Exchange opened at $74.36 on Monday, MarketBeat.com reports. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Intercontinental Exchange Inc has a twelve month low of $63.22 and a twelve month high of $76.69. The firm has a market cap of $43.07 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.03 and a beta of 0.62.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.02. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Intercontinental Exchange had a net margin of 41.65% and a return on equity of 11.14%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 earnings per share. analysts anticipate that Intercontinental Exchange Inc will post 3.52 EPS for the current fiscal year.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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