Pillar Pacific Capital Management Lowers stake in Intercontinental Exchange Inc (ICE)

Intercontinental Exchange Inc (ICE) : Pillar Pacific Capital Management reduced its stake in Intercontinental Exchange Inc by 1.26% during the most recent quarter end. The investment management company now holds a total of 22,716 shares of Intercontinental Exchange Inc which is valued at $6,315,502 after selling 289 shares in Intercontinental Exchange Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Intercontinental Exchange Inc makes up approximately 1.02% of Pillar Pacific Capital Management’s portfolio.

Other Hedge Funds, Including , Cobiz Investment Management added ICE to its portfolio by purchasing 20,518 company shares during the most recent quarter which is valued at $5,704,414. Intercontinental Exchange Inc makes up approx 1.39% of Cobiz Investment Management’s portfolio.Tocqueville Asset Management boosted its stake in ICE in the latest quarter, The investment management firm added 10,430 additional shares and now holds a total of 11,955 shares of Intercontinental Exchange Inc which is valued at $3,158,511. Intercontinental Exchange Inc makes up approx 0.04% of Tocqueville Asset Management’s portfolio.Oakbrook Investments boosted its stake in ICE in the latest quarter, The investment management firm added 479 additional shares and now holds a total of 13,638 shares of Intercontinental Exchange Inc which is valued at $3,589,112. Intercontinental Exchange Inc makes up approx 0.19% of Oakbrook Investments’s portfolio.Checchi Capital Advisers boosted its stake in ICE in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 1,147 shares of Intercontinental Exchange Inc which is valued at $301,856. Intercontinental Exchange Inc makes up approx 0.07% of Checchi Capital Advisers’s portfolio.Ls Investment Advisors reduced its stake in ICE by selling 14 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 2,832 shares of ICE which is valued at $745,297. Intercontinental Exchange Inc makes up approx 0.05% of Ls Investment Advisors’s portfolio.

Intercontinental Exchange Inc opened for trading at $278.52 and hit $280.01 on the upside on Thursday, eventually ending the session at $278.34, with a gain of 0.12% or 0.32 points. The heightened volatility saw the trading volume jump to 7,33,544 shares. Company has a market cap of $33,135 M.

On the company’s financial health, Intercontinental Exchange Inc reported $3.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $3.37. The company had revenue of $1129.00 million for the quarter, compared to analysts expectations of $1120.80 million. The company’s revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS.

Many Wall Street Analysts have commented on Intercontinental Exchange Inc. Company shares were Reiterated by Deutsche Bank on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 304 from a previous price target of $295 .Company shares were Reiterated by RBC Capital Mkts on Aug 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 282 from a previous price target of $255 .Intercontinental Exchange Inc was Resumed by JP Morgan to “Neutral” on Jun 1, 2016.

Intercontinental Exchange Inc. (ICE) is a global operator of regulated exchanges clearing houses and data services for financial and commodity markets. The Company operates marketplaces for trading and clearing an array of securities and derivatives contracts across asset classes including energy and agricultural commodities equities and equity derivatives among others. Its regulated exchanges include futures exchanges in the United States United Kingdom Canada Singapore and Europe three securities exchanges and two equity options exchanges. The Company also operates over-the-counter (OTC) markets for physical energy and credit default swaps (CDS). Its products and services include Regulated Energy Futures Contracts Regulated Agricultural Futures Contracts Regulated Financial Futures Contracts Securities Products and Listings Credit Derivatives Products OTC Energy Products ICE Data Services and New York Stock Exchange (NYSE) Data Services.

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