Intercontinental Exchange Inc. (ICE) Shares Sold by IFP Advisors Inc

IFP Advisors Inc lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 34.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,314 shares of the financial services provider’s stock after selling 4,910 shares during the quarter. IFP Advisors Inc’s holdings in Intercontinental Exchange were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC increased its stake in Intercontinental Exchange by 10.8% in the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 18 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Intercontinental Exchange by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 8,483 shares of the financial services provider’s stock valued at $559,000 after acquiring an additional 29 shares during the last quarter. Thompson Davis & CO. Inc. increased its stake in Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 32 shares during the last quarter. Aspen Investment Management Inc increased its stake in Intercontinental Exchange by 0.6% in the second quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock valued at $581,000 after acquiring an additional 50 shares during the last quarter. Finally, Jump Trading LLC increased its stake in Intercontinental Exchange by 0.4% in the second quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock valued at $1,005,000 after acquiring an additional 68 shares during the last quarter. 89.88% of the stock is currently owned by institutional investors and hedge funds.

In other Intercontinental Exchange news, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $69.76, for a total value of $872,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. Insiders sold 143,050 shares of company stock worth $9,557,830 over the last three months. 1.50% of the stock is owned by insiders.

ICE has been the topic of a number of research analyst reports. Citigroup Inc. initiated coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price on the stock. Barclays PLC initiated coverage on Intercontinental Exchange in a research note on Friday, September 8th. They issued an “overweight” rating and a $72.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Finally, Zacks Investment Research cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $73.30.

Shares of Intercontinental Exchange Inc. (NYSE ICE) opened at $66.24 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $38,752.13, a PE ratio of 22.68, a P/E/G ratio of 2.41 and a beta of 0.71. Intercontinental Exchange Inc. has a 12 month low of $53.27 and a 12 month high of $71.24.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion for 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%. Intercontinental Exchange’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. analysts predict that Intercontinental Exchange Inc. will post 2.95 EPS for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has approved a stock buyback program on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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