Ingalls & Snyder LLC trimmed its stake in Intercontinental Exchange Inc (NYSE:ICE) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,000 shares of the financial services provider’s stock after selling 5,160 shares during the period. Ingalls & Snyder LLC’s holdings in Intercontinental Exchange were worth $7,127,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. IHT Wealth Management LLC lifted its position 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 worth $101,000 after purchasing an additional 18 shares during the period. Americafirst Capital Management LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $145,000. Savant Capital LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $206,000. Geneva Partners LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $206,000. Finally, HighPoint Advisor Group LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $214,000. 90.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Intercontinental Exchange Inc (NYSE ICE) traded up $0.33 during trading on Friday, reaching $75.60. 3,146,864 shares of the company’s stock traded hands, compared to its average volume of 2,523,685. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $44,190.00, a PE ratio of 27.49, a PEG ratio of 2.61 and a beta of 0.70. Intercontinental Exchange Inc has a twelve month low of $56.69 and a twelve month high of $75.79.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion during 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 business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. research analysts forecast that Intercontinental Exchange Inc will post 2.94 earnings per share for the current fiscal year.
Intercontinental Exchange declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
A number of brokerages recently issued reports on ICE. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, January 3rd. Argus lifted their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Citigroup lifted their price target on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. UBS Group lifted their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $75.40.
In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $68.52, for a total value of $856,500.00. Following the completion of the transaction, the insider now directly owns 382,471 shares of the company’s stock, valued at $26,206,912.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Charles A. Vice sold 7,500 shares of Intercontinental Exchange stock in a transaction dated 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 directly owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The disclosure for this sale can be found here. Insiders sold 60,368 shares of company stock valued at $4,357,199 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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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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