Moreno Evelyn V Purchases Shares of 8,050 Intercontinental Exchange Inc. (ICE)
Moreno Evelyn V purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to its most recent filing with the SEC. The fund purchased 8,050 shares of the financial services provider’s stock, valued at approximately $553,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rosenbaum Jay D. bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $332,000. Global X MANAGEMENT CO LLC increased its holdings in shares of Intercontinental Exchange by 7.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 12,234 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 841 shares during the last quarter. Cohen Lawrence B bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $649,000. Candriam Luxembourg S.C.A. increased its holdings in shares of Intercontinental Exchange by 7.9% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 42,325 shares of the financial services provider’s stock valued at $2,908,000 after acquiring an additional 3,107 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Intercontinental Exchange by 99.1% in the 3rd quarter. Bessemer Group Inc. now owns 3,793 shares of the financial services provider’s stock valued at $260,000 after acquiring an additional 1,888 shares during the last quarter. Institutional investors and hedge funds own 89.88% of the company’s stock.
Shares of Intercontinental Exchange Inc. (NYSE ICE) traded up $0.25 during mid-day trading on Friday, reaching $66.45. The company’s stock had a trading volume of 317,385 shares, compared to its average volume of 2,649,580. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc. has a one year low of $53.91 and a one year high of $71.24. The firm has a market cap of $38,605.88, a price-to-earnings ratio of 22.60, a PEG ratio of 2.44 and a beta of 0.71.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. analysts predict that Intercontinental Exchange Inc. will post 2.95 EPS for the current year.
Intercontinental Exchange announced that its Board of Directors has initiated a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $68.52, for a total value of $856,500.00. Following the completion of the sale, the insider now directly owns 382,471 shares in the company, valued at approximately $26,206,912.92. The disclosure for this sale can be found here. Insiders have sold a total of 155,550 shares of company stock valued at $10,414,330 in the last quarter. 1.50% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on ICE shares. Jefferies Group LLC restated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Royal Bank Of Canada restated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research report on Thursday, July 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Finally, UBS AG boosted their price objective on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $73.30.
Intercontinental Exchange Company 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.
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