Charles A. Vice Sells 7,500 Shares of Intercontinental Exchange Inc (ICE) Stock

Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $71.93, for a total value of $539,475.00. Following the completion of the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,151,489.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of Intercontinental Exchange Inc (NYSE ICE) opened at $70.74 on Thursday. Intercontinental Exchange Inc has a 52 week low of $55.79 and a 52 week high of $72.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $41,507.61, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. equities analysts anticipate that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.

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

Several research firms have commented on ICE. Wells Fargo & Company boosted their price objective 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. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Citigroup boosted their price objective on Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 19th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $73.30.

Several hedge funds have recently bought and sold shares of the company. AXA grew its position in shares of Intercontinental Exchange by 6.8% in the third quarter. AXA now owns 255,959 shares of the financial services provider’s stock valued at $17,585,000 after purchasing an additional 16,304 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $293,000. Public Employees Retirement System of Ohio grew its position in shares of Intercontinental Exchange by 0.3% in the third quarter. Public Employees Retirement System of Ohio now owns 534,381 shares of the financial services provider’s stock valued at $36,712,000 after purchasing an additional 1,411 shares in the last quarter. Smith Shellnut Wilson LLC ADV grew its position in shares of Intercontinental Exchange by 282.5% in the third quarter. Smith Shellnut Wilson LLC ADV now owns 3,890 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 2,873 shares in the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $145,000. Institutional investors and hedge funds own 90.83% of the company’s stock.

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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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