Intercontinental Exchange Inc. (NYSE:ICE) insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction on Friday, October 6th. The shares were sold at an average price of $69.76, for a total transaction of $872,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Intercontinental Exchange Inc. (ICE) opened at 69.68 on Wednesday. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 25.82 and a beta of 0.74. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $71.24. The company has a 50-day moving average of $66.76 and a 200-day moving average of $63.78.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. ZWJ Investment Counsel Inc. bought a new position in shares of Intercontinental Exchange in the first quarter worth $625,000. First Business Financial Services Inc. bought a new position in shares of Intercontinental Exchange in the first quarter worth $508,000. Rafferty Asset Management LLC grew its stake in shares of Intercontinental Exchange by 260.5% in the first quarter. Rafferty Asset Management LLC now owns 106,880 shares of the financial services provider’s stock worth $6,399,000 after purchasing an additional 77,232 shares in the last quarter. Findlay Park Partners LLP grew its stake in shares of Intercontinental Exchange by 14.9% in the first quarter. Findlay Park Partners LLP now owns 2,120,320 shares of the financial services provider’s stock worth $126,944,000 after purchasing an additional 275,000 shares in the last quarter. Finally, Gofen & Glossberg LLC IL grew its stake in shares of Intercontinental Exchange by 1.0% in the first quarter. Gofen & Glossberg LLC IL now owns 95,604 shares of the financial services provider’s stock worth $5,724,000 after purchasing an additional 976 shares in the last quarter. 89.75% of the stock is currently owned by hedge funds and other institutional investors.
ICE has been the topic of a number of analyst reports. BidaskClub upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Intercontinental Exchange in a research report on Monday, June 26th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective on the stock. Royal Bank Of Canada upgraded shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $70.00 in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $69.94.
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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