Steward Partners Investment Advisory LLC Takes $293,000 Position in Intercontinental Exchange Inc (ICE)

Steward Partners Investment Advisory LLC purchased a new position in shares of Intercontinental Exchange Inc (NYSE:ICE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,267 shares of the financial services provider’s stock, valued at approximately $293,000.

A number of other large investors also recently bought and sold shares of the business. Thompson Davis & CO. Inc. raised its stake in shares of Intercontinental Exchange by 2.2% in the 2nd 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 period. IHT Wealth Management LLC raised its stake in shares of 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 acquiring an additional 18 shares during the period. Bessemer Group Inc. raised its stake in shares of Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,240 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $145,000. Finally, Parallel Advisors LLC raised its stake in shares of Intercontinental Exchange by 4.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 107 shares during the period. 89.95% of the stock is currently owned by institutional investors.

Shares of Intercontinental Exchange Inc (NYSE ICE) opened at $71.07 on Wednesday. The firm has a market cap of $41,659.71, a price-to-earnings ratio of 24.39, a P/E/G ratio of 2.64 and a beta of 0.73. Intercontinental Exchange Inc has a fifty-two week low of $55.79 and a fifty-two 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.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 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 period last year, the business earned $0.64 EPS. equities analysts anticipate that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.

Intercontinental Exchange declared that its board has initiated a share buyback program on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jean Marc Forneri sold 8,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $70.68, for a total transaction of $565,440.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,130 shares of company stock valued at $5,468,644. 1.50% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on ICE shares. Argus raised their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 5th. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Barclays raised their price target on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Finally, Royal Bank of Canada raised their price target on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.00.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/20/steward-partners-investment-advisory-llc-takes-293000-position-in-intercontinental-exchange-inc-ice.html.

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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).

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

What are top analysts saying about Intercontinental Exchange? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Intercontinental Exchange and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit