Advisor Group Inc. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 48.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,071 shares of the financial services provider’s stock after purchasing an additional 9,445 shares during the period. Advisor Group Inc.’s holdings in Intercontinental Exchange were worth $1,997,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ICE. Thompson Davis & CO. Inc. boosted its position 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 worth $100,000 after purchasing an additional 32 shares during the last quarter. IHT Wealth Management LLC boosted 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 last quarter. Bessemer Group Inc. boosted its position 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 worth $126,000 after purchasing an additional 1,240 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth $128,000. Finally, First Personal Financial Services lifted its holdings in Intercontinental Exchange by 20.4% during the second quarter. First Personal Financial Services now owns 2,122 shares of the financial services provider’s stock worth $140,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.
Shares of Intercontinental Exchange Inc. (NYSE ICE) opened at $66.08 on Friday. Intercontinental Exchange Inc. has a 1-year low of $53.91 and a 1-year high of $71.24. The stock has a market capitalization of $38,921.79, a P/E ratio of 22.78, a PEG ratio of 2.46 and a beta of 0.71. 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 (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.01% and a net margin of 27.91%. The firm’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 posted $0.64 earnings per share. equities research analysts expect that Intercontinental Exchange Inc. will post 2.95 EPS for the current year.
Intercontinental Exchange declared that its board has initiated a share buyback program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Charles A. Vice sold 12,500 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $64.32, for a total value of $804,000.00. Following the completion of the sale, the insider now directly owns 382,471 shares in the company, valued at $24,600,534.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total value of $5,246,600.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,550 shares of company stock valued at $10,414,330. 1.50% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, August 15th. Citigroup Inc. lifted their target price on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. UBS AG lifted their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and a consensus price target of $73.30.
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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