Capital Guardian Trust Co. grew its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 721,865 shares of the financial services provider’s stock after acquiring an additional 2,375 shares during the quarter. Capital Guardian Trust Co. owned 0.12% of Intercontinental Exchange worth $49,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 10.8% during 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. Thompson Davis & CO. Inc. raised its stake in shares of Intercontinental Exchange by 2.2% during 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 period. Bessemer Group Inc. raised its stake in shares of Intercontinental Exchange by 186.5% during 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 period. First Personal Financial Services raised its stake in shares of Intercontinental Exchange by 20.4% during the 2nd quarter. First Personal Financial Services now owns 2,122 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 360 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Intercontinental Exchange by 4.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 107 shares during the period. Institutional investors own 90.83% of the company’s stock.
Shares of Intercontinental Exchange Inc (ICE) opened at $70.93 on Friday. Intercontinental Exchange Inc has a 52 week low of $55.79 and a 52 week high of $72.99. The stock has a market capitalization of $41,495.89, a PE ratio of 24.29, a P/E/G ratio of 2.63 and a beta of 0.73. 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 declared that its board has authorized a share buyback plan on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have recently commented 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 research note on Thursday, October 5th. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Barclays lifted their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Royal Bank Of Canada lifted their target price on Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $73.30.
In other Intercontinental Exchange news, 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 owns 377,471 shares of the company’s stock, valued at approximately $27,151,489.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Marc Forneri sold 8,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total value of $565,440.00. The disclosure for this sale can be found here. Insiders sold a total of 78,130 shares of company stock worth $5,468,644 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
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Intercontinental Exchange 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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