Charles A. Vice Sells 35,000 Shares of Intercontinental Exchange Inc (ICE) Stock

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Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $79.75, for a total value of $2,791,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of ICE opened at $78.55 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Intercontinental Exchange Inc has a 1 year low of $66.92 and a 1 year high of $82.65. The stock has a market cap of $45.07 billion, a price-to-earnings ratio of 26.63, a P/E/G ratio of 2.27 and a beta of 0.50.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Intercontinental Exchange had a return on equity of 11.67% and a net margin of 43.09%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $0.73 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc will post 3.53 earnings per share for the current year.

Intercontinental Exchange declared that its Board of Directors has initiated a share buyback program 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 buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Clearbridge Investments LLC boosted its holdings in Intercontinental Exchange by 9,165.9% during the third quarter. Clearbridge Investments LLC now owns 823,278 shares of the financial services provider’s stock worth $61,655,000 after buying an additional 814,393 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Intercontinental Exchange by 43.5% during the 3rd quarter. Morgan Stanley now owns 1,470,915 shares of the financial services provider’s stock valued at $110,156,000 after purchasing an additional 446,018 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Intercontinental Exchange by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 2,636,109 shares of the financial services provider’s stock valued at $197,420,000 after purchasing an additional 36,905 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Intercontinental Exchange by 7,378.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 412,797 shares of the financial services provider’s stock valued at $5,512,000 after purchasing an additional 407,277 shares in the last quarter. Finally, Financial Enhancement Group LLC lifted its holdings in shares of Intercontinental Exchange by 1.0% during the 3rd quarter. Financial Enhancement Group LLC now owns 92,025 shares of the financial services provider’s stock valued at $6,892,000 after purchasing an additional 874 shares in the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.

Several equities analysts recently issued reports on the company. Raymond James raised their price target on Intercontinental Exchange from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Citigroup set a $80.00 price target on Intercontinental Exchange and gave the company a “hold” rating in a report on Thursday, November 1st. Rosenblatt Securities assumed coverage on Intercontinental Exchange in a report on Wednesday, September 5th. They issued a “buy” rating and a $88.00 price target on the stock. Finally, Berenberg Bank cut Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $87.00 price target on the stock. in a report on Tuesday, November 20th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $84.50.

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Intercontinental Exchange Company 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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