Steward Partners Investment Advisory LLC purchased a new position in Intercontinental Exchange Inc (NYSE:ICE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,267 shares of the financial services provider’s stock, valued at approximately $293,000.
Several other institutional investors have also recently modified their holdings of the company. IHT Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 18 shares during the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 32 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,240 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $145,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 4.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction on Friday, January 5th. The shares were sold at an average price of $72.55, for a total value of $544,125.00. Following the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at $27,385,521.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.52, for a total transaction of $856,500.00. Following the completion of the transaction, the insider now directly owns 382,471 shares in the company, valued at $26,206,912.92. The disclosure for this sale can be found here. Insiders sold 38,070 shares of company stock worth $2,684,849 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
Shares of Intercontinental Exchange Inc (ICE) traded down $0.08 during mid-day trading on Thursday, reaching $74.38. 2,180,000 shares of the company traded hands, compared to its average volume of 2,780,000. The stock has a market capitalization of $43,510.00, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.29 and a beta of 0.70. 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 Inc has a 12 month low of $55.80 and a 12 month high of $74.61.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $0.64 earnings per share. analysts anticipate that Intercontinental Exchange Inc will post 2.95 EPS for the current fiscal year.
Intercontinental Exchange announced that its board has approved a stock buyback program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
ICE has been the subject of a number of analyst reports. Argus increased their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, January 3rd. Wells Fargo & Co raised their price objective on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Finally, Royal Bank of Canada raised their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $75.40.
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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.
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