BT Investment Management Ltd raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,498,627 shares of the financial services provider’s stock after purchasing an additional 23,499 shares during the period. Intercontinental Exchange accounts for 1.3% of BT Investment Management Ltd’s investment portfolio, making the stock its 22nd biggest position. BT Investment Management Ltd owned about 0.25% of Intercontinental Exchange worth $102,956,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. IHT Wealth Management LLC boosted its holdings in Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 18 shares during the period. Thompson Davis & CO. Inc. lifted its holdings 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 acquiring an additional 32 shares during the last quarter. Norway Savings Bank lifted its holdings in shares of Intercontinental Exchange by 16.7% during the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 235 shares during the last quarter. Bessemer Group Inc. lifted its holdings 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 acquiring an additional 1,240 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $128,000. 89.82% of the stock is owned by hedge funds and other institutional investors.
ICE has been the topic of a number of analyst reports. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price on the stock. Barclays PLC initiated coverage on shares of Intercontinental Exchange in a research report on Friday, September 8th. They issued an “overweight” rating and a $72.00 target price on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Finally, Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average price target of $73.30.
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In other news, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $64.32, for a total transaction of $804,000.00. Following the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at $24,600,534.72. The disclosure for this sale can be found here. Insiders have sold 143,050 shares of company stock valued at $9,557,830 over the last three months. 1.50% of the stock is owned by corporate insiders.
Shares of Intercontinental Exchange Inc. (ICE) traded down $2.43 during midday trading on Friday, hitting $66.24. 6,901,262 shares of the stock traded hands, compared to its average volume of 3,989,901. The company has a market capitalization of $38,752.12, a P/E ratio of 22.68, a PEG ratio of 2.41 and a beta of 0.71. Intercontinental Exchange Inc. has a 52-week low of $53.27 and a 52-week high of $71.24. The company has a current ratio of 1.01, a quick ratio of 0.99 and a debt-to-equity ratio of 0.30.
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 firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. equities research analysts forecast that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current year.
Intercontinental Exchange announced that its Board of Directors has approved a share buyback plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
About Intercontinental Exchange
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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