Oakbrook Investments LLC lessened its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,665 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Oakbrook Investments LLC’s holdings in Intercontinental Exchange were worth $2,821,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in Intercontinental Exchange by 3,708.6% in the second quarter. Millennium Management LLC now owns 2,055,613 shares of the financial services provider’s stock worth $151,190,000 after purchasing an additional 2,112,577 shares in the last quarter. Swedbank bought a new position in Intercontinental Exchange in the third quarter worth $106,185,000. Senator Investment Group LP raised its holdings in Intercontinental Exchange by 140.0% in the second quarter. Senator Investment Group LP now owns 2,400,000 shares of the financial services provider’s stock worth $176,520,000 after purchasing an additional 1,400,000 shares in the last quarter. Unigestion Holding SA bought a new position in Intercontinental Exchange in the second quarter worth $92,852,000. Finally, Glenmede Trust Co. NA raised its holdings in Intercontinental Exchange by 11,080.3% in the second quarter. Glenmede Trust Co. NA now owns 1,101,033 shares of the financial services provider’s stock worth $80,982,000 after purchasing an additional 1,091,185 shares in the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $73.28, for a total value of $5,862,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Johnathan H. Short sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $77.05, for a total value of $462,300.00. Following the completion of the transaction, the general counsel now directly owns 47,991 shares in the company, valued at $3,697,706.55. The disclosure for this sale can be found here. Insiders sold 288,819 shares of company stock worth $21,896,765 over the last three months. Insiders own 1.50% of the company’s stock.
Shares of Intercontinental Exchange stock traded down $0.87 during trading on Friday, hitting $79.08. 2,809,670 shares of the company’s stock traded hands, compared to its average volume of 3,524,953. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc has a 1 year low of $65.96 and a 1 year high of $80.00. The stock has a market capitalization of $44.74 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.27 and a beta of 0.53.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.80 by $0.05. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. Intercontinental Exchange’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc will post 3.52 EPS for the current fiscal year.
Intercontinental Exchange declared that its board has authorized a share buyback plan on Wednesday, October 31st that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have issued reports on ICE shares. ValuEngine upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Friday, September 7th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. FIX began coverage on Intercontinental Exchange in a report on Wednesday, September 5th. They set a “buy” rating and a $88.00 price target for the company. Wells Fargo & Co raised their price target on Intercontinental Exchange from $80.00 to $81.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. Finally, Barclays raised their price target on Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $84.07.
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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