Intercontinental Exchange Inc (ICE) Vice Chairman Sells $544,125.00 in Stock

Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.55, for a total value of $544,125.00. Following the completion of the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at $27,385,521.05. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of Intercontinental Exchange Inc (NYSE:ICE) traded down $0.82 during mid-day trading on Friday, hitting $73.98. 2,540,319 shares of the stock traded hands, compared to its average volume of 2,380,000. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc has a one year low of $56.80 and a one year high of $76.14. The firm has a market cap of $43,280.00, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.71 by $0.02. The firm 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%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. sell-side analysts predict that Intercontinental Exchange Inc will post 2.94 earnings per share for the current year.

Intercontinental Exchange declared that its Board of Directors has approved a share buyback plan on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

ICE has been the subject of a number of research analyst reports. Barclays increased their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Royal Bank of Canada raised their target price on Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Citigroup raised their target price on Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Argus raised their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Finally, UBS Group raised their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $76.73.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 1,254.2% during the 2nd quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock worth $596,480,000 after acquiring an additional 8,380,362 shares in the last quarter. Northern Trust Corp lifted its stake in Intercontinental Exchange by 19.9% in the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after purchasing an additional 1,883,432 shares during the last quarter. Prudential PLC raised its stake in shares of Intercontinental Exchange by 39,517.6% during the second quarter. Prudential PLC now owns 1,481,301 shares of the financial services provider’s stock valued at $97,647,000 after acquiring an additional 1,477,562 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Intercontinental Exchange during the second quarter valued at $97,240,000. Finally, Capital International Investors raised its stake in shares of Intercontinental Exchange by 15.6% during the third quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares during the last quarter. Institutional investors and hedge funds own 90.10% of the company’s stock.

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About Intercontinental Exchange

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.

Insider Buying and Selling by Quarter for Intercontinental Exchange (NYSE:ICE)

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