Intercontinental Exchange Inc (NYSE:ICE) insider Dean S. Mathison sold 2,570 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total transaction of $179,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Intercontinental Exchange Inc (ICE) traded up $0.60 during midday trading on Friday, hitting $72.85. 1,924,245 shares of the stock were exchanged, compared to its average volume of 2,720,000. The firm has a market cap of $42,620.00, a P/E ratio of 26.49, a P/E/G ratio of 2.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc has a fifty-two week low of $55.80 and a fifty-two week high of $72.99.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. equities research analysts forecast that Intercontinental Exchange Inc will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange declared that its board has authorized a share buyback program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
ICE has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday. Argus raised their price target on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. UBS Group raised their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods restated a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a report on Sunday, October 8th. Finally, Wells Fargo & Co raised their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average price target of $75.40.
Large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. boosted its position in shares of 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 worth $100,000 after purchasing an additional 32 shares during the period. IHT Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 18 shares during the period. Americafirst Capital Management LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $145,000. Savant Capital LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $206,000. Finally, Geneva Partners LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $206,000. 89.95% of the stock is owned by hedge funds and other institutional investors.
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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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