Investors Sell Shares of IntercontinentalExchange Group Inc. (ICE) on Strength (ICE)
Traders sold shares of IntercontinentalExchange Group Inc. (NYSE:ICE) on strength during trading hours on Monday. $12.30 million flowed into the stock on the tick-up and $36.29 million flowed out of the stock on the tick-down, for a money net flow of $23.99 million out of the stock. Of all companies tracked, IntercontinentalExchange Group had the 0th highest net out-flow for the day. IntercontinentalExchange Group traded up $0.24 for the day and closed at $263.41
Several equities analysts have recently weighed in on ICE shares. Zacks Investment Research raised IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a report on Friday, June 24th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $305.00 price target on shares of IntercontinentalExchange Group in a report on Friday, May 6th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of IntercontinentalExchange Group in a report on Saturday, April 9th. Sterne Agee CRT started coverage on IntercontinentalExchange Group in a report on Thursday, May 19th. They set a “buy” rating and a $300.00 price target on the stock. Finally, Deutsche Bank AG started coverage on IntercontinentalExchange Group in a report on Thursday, May 5th. They set a “buy” rating and a $295.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. IntercontinentalExchange Group currently has an average rating of “Buy” and an average price target of $283.83.
The stock has a 50 day moving average price of $257.61 and a 200 day moving average price of $249.07. The firm has a market capitalization of $30.30 billion and a price-to-earnings ratio of 22.55.
IntercontinentalExchange Group (NYSE:ICE) last posted its earnings results on Wednesday, May 4th. The company reported $3.68 EPS for the quarter, beating the Zacks’ consensus estimate of $3.65 by $0.03. The company earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $3.06 earnings per share. The company’s quarterly revenue was up 35.8% on a year-over-year basis. Equities research analysts expect that IntercontinentalExchange Group Inc. will post $13.90 earnings per share for the current fiscal year.
In related news, insider Charles A. Vice sold 2,500 shares of the stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $266.62, for a total value of $666,550.00. Following the transaction, the insider now directly owns 62,483 shares of the company’s stock, valued at approximately $16,659,217.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas W. Farley sold 755 shares of the stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $253.18, for a total transaction of $191,150.90. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Carmignac Gestion increased its position in IntercontinentalExchange Group by 21.6% in the fourth quarter. Carmignac Gestion now owns 2,339,325 shares of the company’s stock worth $599,475,000 after buying an additional 415,461 shares during the period. Aberdeen Asset Management PLC UK increased its position in shares of IntercontinentalExchange Group by 203.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,154,732 shares of the company’s stock valued at $283,763,000 after buying an additional 774,074 shares during the last quarter. Morgan Stanley increased its position in shares of IntercontinentalExchange Group by 43.5% in the fourth quarter. Morgan Stanley now owns 267,189 shares of the company’s stock valued at $68,471,000 after buying an additional 81,044 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of IntercontinentalExchange Group by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 220,903 shares of the company’s stock valued at $56,610,000 after buying an additional 7,384 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of IntercontinentalExchange Group by 12.5% in the fourth quarter. Principal Financial Group Inc. now owns 173,258 shares of the company’s stock valued at $44,399,000 after buying an additional 19,217 shares during the last quarter.
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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