Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 35,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $78.12, for a total value of $2,734,200.00. Following the sale, the insider now owns 419,907 shares of the company’s stock, valued at $32,803,134.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NYSE ICE opened at $79.08 on Friday. Intercontinental Exchange Inc has a fifty-two week low of $65.96 and a fifty-two week high of $80.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $44.74 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.27 and a beta of 0.53.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $0.73 EPS. The business’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc will post 3.52 earnings per share for the current year.
Intercontinental Exchange declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 31st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
Large investors have recently made changes to their positions in the company. Kaizen Advisory LLC raised its position in shares of Intercontinental Exchange by 143.4% in the 2nd quarter. Kaizen Advisory LLC now owns 1,356 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 799 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $104,000. Sun Life Financial INC raised its position in shares of Intercontinental Exchange by 717.7% in the 2nd quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,378 shares in the last quarter. Townsend & Associates Inc raised its position in shares of Intercontinental Exchange by 894.0% in the 2nd quarter. Townsend & Associates Inc now owns 1,650 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 1,484 shares in the last quarter. Finally, LeJeune Puetz Investment Counsel LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $165,000. 88.99% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on ICE shares. JPMorgan Chase & Co. restated an “overweight” rating and set a $91.00 target price on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. Citigroup set a $80.00 price objective on Intercontinental Exchange and gave the stock a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Barclays increased their price objective on Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, November 1st. Finally, Berenberg Bank set a $92.00 price objective on Intercontinental Exchange and gave the stock a “buy” rating in a report on Thursday, September 20th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $84.07.
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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