Evercore Wealth Management LLC Acquires 668 Shares of Intercontinental Exchange Inc (ICE)

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Evercore Wealth Management LLC increased its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,902 shares of the financial services provider’s stock after acquiring an additional 668 shares during the quarter. Evercore Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,416,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Millennium Management LLC boosted its holdings in Intercontinental Exchange by 3,708.6% in the 2nd quarter. Millennium Management LLC now owns 2,055,613 shares of the financial services provider’s stock valued at $151,190,000 after purchasing an additional 2,112,577 shares during the last quarter. Swedbank acquired a new position in Intercontinental Exchange in the 3rd quarter valued at about $106,185,000. Senator Investment Group LP boosted its holdings in Intercontinental Exchange by 140.0% in the 2nd quarter. Senator Investment Group LP now owns 2,400,000 shares of the financial services provider’s stock valued at $176,520,000 after purchasing an additional 1,400,000 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Intercontinental Exchange by 11,080.3% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,101,033 shares of the financial services provider’s stock valued at $80,982,000 after purchasing an additional 1,091,185 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its holdings in Intercontinental Exchange by 17.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock valued at $510,306,000 after purchasing an additional 1,011,626 shares during the last quarter. Hedge funds and other institutional investors own 89.09% of the company’s stock.

In related news, CFO Scott A. Hill sold 403 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $80.00, for a total transaction of $32,240.00. Following the sale, the chief financial officer now directly owns 161,526 shares of the company’s stock, valued at approximately $12,922,080. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mark Wassersug sold 7,898 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.79, for a total transaction of $614,385.42. Following the sale, the chief operating officer now directly owns 36,977 shares in the company, valued at $2,876,440.83. The disclosure for this sale can be found here. Insiders sold a total of 145,166 shares of company stock worth $11,289,285 over the last three months. Insiders own 1.50% of the company’s stock.

Several equities analysts have weighed in on ICE shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $91.00 target price on shares of Intercontinental Exchange in a report on Friday, October 12th. They noted that the move was a valuation call. Atlantic Securities started coverage on shares of Intercontinental Exchange in a report on Wednesday, November 28th. They issued an “overweight” rating on the stock. Citigroup set a $80.00 target price on shares of Intercontinental Exchange and gave the company a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $84.50.

Intercontinental Exchange stock opened at $78.55 on Friday. The company has a market capitalization of $45.15 billion, a PE ratio of 23.45, a P/E/G ratio of 2.27 and a beta of 0.50. Intercontinental Exchange Inc has a 1 year low of $66.92 and a 1 year high of $82.65. 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 (NYSE:ICE) last released its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. On average, research analysts forecast that Intercontinental Exchange Inc will post 3.54 EPS for the current year.

Intercontinental Exchange announced that its Board of Directors has authorized a stock repurchase program on Wednesday, October 31st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

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About Intercontinental Exchange

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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