Vident Investment Advisory LLC Invests $795,000 in Intercontinental Exchange Inc (ICE) Stock

Vident Investment Advisory LLC acquired a new stake in shares of Intercontinental Exchange Inc (NYSE:ICE) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 11,582 shares of the financial services provider’s stock, valued at approximately $795,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Thompson Davis & CO. Inc. grew its holdings in Intercontinental Exchange by 2.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after buying an additional 32 shares in the last quarter. IHT Wealth Management LLC grew its holdings in Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares in the last quarter. Bessemer Group Inc. grew its holdings in Intercontinental Exchange by 186.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares in the last quarter. First Personal Financial Services grew its holdings in Intercontinental Exchange by 20.4% during the 2nd quarter. First Personal Financial Services now owns 2,122 shares of the financial services provider’s stock valued at $140,000 after buying an additional 360 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Intercontinental Exchange by 4.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock valued at $167,000 after buying an additional 107 shares in the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

ICE has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Intercontinental Exchange in a report on Friday, September 8th. They issued an “overweight” rating and a $72.00 target price for the company. Jefferies Group reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Wells Fargo & Company raised their target price 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $73.30.

In related news, 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 value of $565,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $69.76, for a total value of $872,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,130 shares of company stock valued at $5,468,644. 1.50% of the stock is owned by corporate insiders.

Intercontinental Exchange Inc (ICE) traded down $0.16 during mid-day trading on Friday, hitting $70.32. 2,982,000 shares of the company were exchanged, compared to its average volume of 2,663,100. Intercontinental Exchange Inc has a 1 year low of $55.79 and a 1 year high of $72.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $41,232.65, a price-to-earnings ratio of 24.14, a PEG ratio of 2.61 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. Intercontinental Exchange’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.64 earnings per share. research analysts anticipate that Intercontinental Exchange Inc will post 2.95 EPS for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that authorizes the company to repurchase $1.20 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Intercontinental Exchange 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.

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

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