United Services Automobile Association Has $45.88 Million Holdings in Intercontinental Exchange Inc (ICE)

United Services Automobile Association lowered its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 612,608 shares of the financial services provider’s stock after selling 7,000 shares during the period. United Services Automobile Association’s holdings in Intercontinental Exchange were worth $45,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Quad Cities Investment Group LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $104,000. Sun Life Financial INC increased its stake in shares of Intercontinental Exchange by 717.7% in the 2nd quarter. Sun Life Financial INC now owns 1,570 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,378 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $183,000. Opera Trading Capital bought a new position in shares of Intercontinental Exchange in the 3rd quarter worth about $195,000. Finally, Greenleaf Trust bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $214,000. 88.92% of the stock is owned by institutional investors and hedge funds.

ICE opened at $81.72 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $46.55 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 2.35 and a beta of 0.53. Intercontinental Exchange Inc has a 12-month low of $66.92 and a 12-month high of $81.95.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. On average, equities research analysts predict that Intercontinental Exchange Inc will post 3.53 earnings per share for the current year.

Intercontinental Exchange declared that its board has initiated a share repurchase program on Wednesday, October 31st that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Several research analysts recently issued reports on the stock. Zacks Investment Research reiterated a “buy” rating and issued a $86.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, November 13th. Deutsche Bank increased their price target on shares of Intercontinental Exchange from $85.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, November 16th. Barclays increased their price target on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, November 1st. Atlantic Securities started coverage on shares of Intercontinental Exchange in a research note on Wednesday. They set an “overweight” rating for the company. Finally, ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and an average price target of $84.50.

In related news, CFO Scott A. Hill sold 70,659 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $76.56, for a total value of $5,409,653.04. Following the transaction, the chief financial officer now owns 231,782 shares of the company’s stock, valued at $17,745,229.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $77.09, for a total transaction of $2,698,150.00. Following the completion of the transaction, the insider now directly owns 419,907 shares in the company, valued at approximately $32,370,630.63. The disclosure for this sale can be found here. In the last three months, insiders sold 221,825 shares of company stock worth $17,068,138. 1.50% of the stock is currently owned by insiders.

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Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: Institutional Investors

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)

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