Alliancebernstein L.P. raised its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 2,068,005 shares of the financial services provider’s stock after acquiring an additional 3,678 shares during the quarter. Alliancebernstein L.P.’s holdings in Intercontinental Exchange were worth $154,873,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Arcadia Investment Management Corp MI increased its position in Intercontinental Exchange by 4.2% during the third quarter. Arcadia Investment Management Corp MI now owns 129,735 shares of the financial services provider’s stock valued at $9,716,000 after acquiring an additional 5,225 shares during the last quarter. Mitchell Capital Management Co. bought a new position in shares of Intercontinental Exchange in the third quarter worth about $2,275,000. Piedmont Investment Advisors Inc. grew its holdings in shares of Intercontinental Exchange by 9.9% in the third quarter. Piedmont Investment Advisors Inc. now owns 27,241 shares of the financial services provider’s stock worth $2,040,000 after purchasing an additional 2,451 shares during the last quarter. Hartford Investment Management Co. grew its holdings in shares of Intercontinental Exchange by 4.9% in the third quarter. Hartford Investment Management Co. now owns 73,864 shares of the financial services provider’s stock worth $5,532,000 after purchasing an additional 3,418 shares during the last quarter. Finally, Norinchukin Bank The grew its holdings in shares of Intercontinental Exchange by 12.4% in the third quarter. Norinchukin Bank The now owns 40,567 shares of the financial services provider’s stock worth $3,038,000 after purchasing an additional 4,491 shares during the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.

ICE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $91.00 price target on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. Citigroup set a $80.00 price target on shares of Intercontinental Exchange and gave the stock a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Barclays upped their price target on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, November 1st. Finally, Berenberg Bank set a $92.00 price target on shares of Intercontinental Exchange and gave the stock a “buy” rating in a report on Thursday, September 20th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $84.86.

In related news, CEO Jeffrey C. Sprecher sold 80,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $73.28, for a total value of $5,862,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $77.09, for a total transaction of $2,698,150.00. Following the completion of the sale, the insider now directly owns 419,907 shares of the company’s stock, valued at $32,370,630.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,625 shares of company stock valued at $22,834,370. 1.50% of the stock is owned by insiders.

NYSE:ICE opened at $81.39 on Tuesday. Intercontinental Exchange Inc has a 1-year low of $66.51 and a 1-year high of $81.95. The stock has a market capitalization of $46.26 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc will post 3.52 earnings per share for the current fiscal year.

Intercontinental Exchange announced that its board has approved a stock buyback plan on Wednesday, October 31st that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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Intercontinental Exchange Profile

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

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