Mutual of America Capital Management LLC reduced its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,920 shares of the financial services provider’s stock after selling 689 shares during the period. Mutual of America Capital Management LLC’s holdings in Intercontinental Exchange were worth $5,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in ICE. Quad Cities Investment Group LLC acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $104,000. Sun Life Financial INC increased its position in Intercontinental Exchange by 717.7% during the 2nd quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,378 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $183,000. Opera Trading Capital acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $195,000. Finally, Greenleaf Trust acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $214,000. 89.09% of the stock is currently owned by institutional investors.
In other news, CFO Scott A. Hill sold 403 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $80.00, for a total value of $32,240.00. Following the sale, the chief financial officer now owns 161,526 shares in the company, valued at $12,922,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $75.06, for a total value of $2,627,100.00. Following the completion of the sale, the insider now owns 416,412 shares in the company, valued at approximately $31,255,884.72. The disclosure for this sale can be found here. Insiders sold 145,166 shares of company stock worth $11,289,285 over the last three months. Corporate insiders own 1.50% of the company’s stock.
Shares of ICE stock opened at $78.55 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $45.15 billion, a PE ratio of 26.63, a PEG ratio of 2.27 and a beta of 0.50. Intercontinental Exchange Inc has a fifty-two week low of $66.92 and a fifty-two week high of $82.65.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. Research analysts anticipate that Intercontinental Exchange Inc will post 3.54 EPS for the current year.
Intercontinental Exchange announced that its Board of Directors has approved a share repurchase program on Wednesday, October 31st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Friday, November 30th. Atlantic Securities assumed coverage on Intercontinental Exchange in a research report on Wednesday, November 28th. They set an “overweight” rating on the stock. Berenberg Bank lowered Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 target price on the stock. in a research report on Tuesday, November 20th. Deutsche Bank upped their target price on Intercontinental Exchange from $85.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, November 16th. Finally, JPMorgan Chase & Co. set a $92.00 target price on Intercontinental Exchange and gave the company a “buy” rating in a research report on Friday, November 2nd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $84.50.
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Intercontinental Exchange Profile
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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