Intercontinental Exchange (NYSE:ICE) General Counsel Johnathan H. Short sold 6,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $71.67, for a total value of $430,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE ICE opened at $72.40 on Friday. Intercontinental Exchange has a twelve month low of $71.45 and a twelve month high of $72.16. The company has a market capitalization of $41.86 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. 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 (NYSE:ICE) last announced its earnings results on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. Intercontinental Exchange had a return on equity of 11.14% and a net margin of 41.65%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. analysts forecast that Intercontinental Exchange will post 3.52 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in ICE. BlackRock Inc. lifted its stake in Intercontinental Exchange by 6.0% in the fourth quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock valued at $2,629,892,000 after purchasing an additional 2,104,818 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Intercontinental Exchange by 30.9% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,169,009 shares of the financial services provider’s stock valued at $223,605,000 after purchasing an additional 747,757 shares during the last quarter. CI Global Investments Inc. purchased a new position in Intercontinental Exchange in the first quarter valued at approximately $47,938,000. Millennium Management LLC lifted its stake in Intercontinental Exchange by 54.7% in the fourth quarter. Millennium Management LLC now owns 1,613,351 shares of the financial services provider’s stock valued at $113,838,000 after purchasing an additional 570,492 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Intercontinental Exchange by 10.9% in the fourth quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock valued at $398,504,000 after purchasing an additional 557,332 shares during the last quarter. Hedge funds and other institutional investors own 90.88% of the company’s stock.
A number of equities analysts have issued reports on ICE shares. Bank of America cut their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. ValuEngine upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Argus reiterated a “buy” rating and set a $67.00 price target (down previously from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Berenberg Bank started coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 price target for the company. Finally, JPMorgan Chase upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $76.00 to $83.00 in a research note on Tuesday, February 20th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $78.36.
About Intercontinental Exchange
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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