Loomis Sayles & Co. L P decreased its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,169,704 shares of the financial services provider’s stock after selling 119,949 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.21% of Intercontinental Exchange worth $87,599,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in ICE. Quad Cities Investment Group LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $104,000. Sun Life Financial INC lifted its holdings in shares of Intercontinental Exchange by 717.7% during 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 during the period. Flagship Harbor Advisors LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $183,000. Opera Trading Capital bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $195,000. Finally, Greenleaf Trust bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $214,000. Institutional investors own 89.09% of the company’s stock.
ICE opened at $81.72 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $46.55 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 2.35 and a beta of 0.50. Intercontinental Exchange Inc has a 1-year low of $66.92 and a 1-year high of $81.95.
Intercontinental Exchange announced that its board has initiated a share buyback plan 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 purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $77.09, for a total value of $2,698,150.00. Following the transaction, the insider now owns 419,907 shares of the company’s stock, valued at $32,370,630.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Scott A. Hill sold 70,659 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $76.56, for a total transaction of $5,409,653.04. Following the completion of the transaction, the chief financial officer now directly owns 231,782 shares in the company, valued at approximately $17,745,229.92. The disclosure for this sale can be found here. Insiders have sold a total of 221,825 shares of company stock worth $17,068,138 in the last three months. 1.50% of the stock is owned by insiders.
ICE has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $91.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. ValuEngine raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Friday, October 19th. FIX initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, September 5th. They set a “buy” rating and a $88.00 price objective for the company. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, Rosenblatt Securities initiated coverage on shares of Intercontinental Exchange in a report on Wednesday, September 5th. They set a “buy” rating and a $88.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus target price of $84.50.
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About Intercontinental Exchange
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.
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