Ameriprise Financial Inc. reduced its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 6.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,991,520 shares of the financial services provider’s stock after selling 387,448 shares during the period. Ameriprise Financial Inc. owned 1.02% of Intercontinental Exchange worth $411,622,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ninepoint Partners LP purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $19,021,000. RKL Wealth Management LLC grew its stake in Intercontinental Exchange by 19.7% during the third quarter. RKL Wealth Management LLC now owns 16,508 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 2,712 shares in the last quarter. Commerce Bank grew its stake in Intercontinental Exchange by 3.1% during the third quarter. Commerce Bank now owns 27,381 shares of the financial services provider’s stock valued at $1,881,000 after acquiring an additional 829 shares in the last quarter. NBT Bank N A NY grew its stake in Intercontinental Exchange by 24.3% during the third quarter. NBT Bank N A NY now owns 4,623 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 903 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Intercontinental Exchange by 2.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 141,699 shares of the financial services provider’s stock valued at $9,735,000 after purchasing an additional 3,029 shares during the last quarter. 90.83% of the stock is currently owned by institutional investors.
Shares of Intercontinental Exchange Inc (NYSE ICE) traded down $0.35 during trading on Thursday, reaching $70.39. 2,652,494 shares of the company were exchanged, compared to its average volume of 2,676,068. The company has a market cap of $41,507.61, a PE ratio of 24.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.73. Intercontinental Exchange Inc has a 52 week low of $55.79 and a 52 week high of $72.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. Intercontinental Exchange’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 EPS. research analysts anticipate that Intercontinental Exchange Inc will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, CFO Scott A. Hill sold 37,630 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $71.93, for a total transaction of $539,475.00. Following the completion of the transaction, the insider now owns 377,471 shares in the company, valued at approximately $27,151,489.03. The disclosure for this sale can be found here. Insiders have sold a total of 70,130 shares of company stock worth $4,903,204 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Several equities research analysts have issued reports on ICE shares. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research report on Sunday, October 8th. UBS boosted their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intercontinental Exchange currently has an average rating of “Buy” and a consensus price target of $73.30.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/12/07/ameriprise-financial-inc-sells-387448-shares-of-intercontinental-exchange-inc-ice.html.
Intercontinental Exchange 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.
Receive News & Ratings for Intercontinental Exchange Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange Inc and related companies with MarketBeat.com's FREE daily email newsletter.