KCS Wealth Advisory Purchases Shares of 3,243 Intercontinental Exchange Inc (ICE)

KCS Wealth Advisory purchased a new stake in Intercontinental Exchange Inc (NYSE:ICE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,243 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Oppenheimer & Co. Inc. boosted its holdings in shares of Intercontinental Exchange by 5.7% in the second quarter. Oppenheimer & Co. Inc. now owns 6,010 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 326 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Intercontinental Exchange by 409.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,070 shares of the financial services provider’s stock worth $1,982,000 after buying an additional 24,170 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Intercontinental Exchange by 9.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,552 shares of the financial services provider’s stock worth $366,000 after buying an additional 501 shares during the period. Bridgewater Associates LP lifted its holdings in Intercontinental Exchange by 5.4% during the second quarter. Bridgewater Associates LP now owns 9,507 shares of the financial services provider’s stock worth $627,000 after buying an additional 485 shares during the period. Finally, Norinchukin Bank The lifted its holdings in Intercontinental Exchange by 11.7% during the second quarter. Norinchukin Bank The now owns 23,381 shares of the financial services provider’s stock worth $1,541,000 after buying an additional 2,445 shares during the period. Hedge funds and other institutional investors own 89.96% of the company’s stock.

In other news, insider Dean S. Mathison sold 2,570 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total transaction of $179,308.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles A. Vice sold 12,500 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $68.52, for a total value of $856,500.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at approximately $26,206,912.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,070 shares of company stock valued at $2,684,849. Company insiders own 1.50% of the company’s stock.

Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $74.78 on Friday. Intercontinental Exchange Inc has a twelve month low of $55.80 and a twelve month high of $75.01. 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 $43,748.24, a price-to-earnings ratio of 25.61, a PEG ratio of 2.64 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. sell-side analysts expect that Intercontinental Exchange Inc will post 2.94 earnings per share for the current year.

Intercontinental Exchange announced that its Board of Directors has approved a stock repurchase 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 buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

A number of analysts have weighed in on ICE shares. Barclays upped their target price on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. UBS Group upped their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Argus upped their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Citigroup upped their target price on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $75.40.

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

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