Intercontinental Exchange Inc (ICE) Vice Chairman Sells $544,125.00 in Stock

Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 7,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $72.55, for a total transaction of $544,125.00. Following the completion of the sale, the insider now owns 377,471 shares of the company’s stock, valued at approximately $27,385,521.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Intercontinental Exchange Inc (ICE) opened at $74.80 on Thursday. Intercontinental Exchange Inc has a one year low of $56.21 and a one year high of $75.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $43,631.25, a PE ratio of 27.20, a P/E/G ratio of 2.60 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 EPS. analysts predict that Intercontinental Exchange Inc will post 2.94 earnings per share for the current year.

Intercontinental Exchange announced that its Board of Directors has authorized a stock buyback program on Thursday, November 2nd that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several analysts have weighed in on ICE shares. UBS Group boosted their target price on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Citigroup boosted their target price on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Barclays upped their price objective on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Wells Fargo & Co increased their target price on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 5th. Finally, Royal Bank of Canada increased their target price on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $75.40.

Large investors have recently made changes to their positions in the company. IHT Wealth Management LLC lifted 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 buying an additional 18 shares during the period. Americafirst Capital Management LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at $145,000. Geneva Partners LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at $206,000. Savant Capital LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at $206,000. Finally, HighPoint Advisor Group LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at $214,000. 90.08% of the stock is currently owned by 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.

Insider Buying and Selling by Quarter for Intercontinental Exchange (NYSE:ICE)

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