Teacher Retirement System of Texas lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,058,571 shares of the financial services provider’s stock after selling 8,017 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.18% of Intercontinental Exchange worth $72,724,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its stake in Intercontinental Exchange by 10.8% during the second quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after buying an additional 18 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Intercontinental Exchange by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 8,483 shares of the financial services provider’s stock valued at $559,000 after buying an additional 29 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in Intercontinental Exchange by 2.2% during the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after buying an additional 32 shares during the last quarter. Aspen Investment Management Inc raised its stake in Intercontinental Exchange by 0.6% during the second quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock valued at $581,000 after buying an additional 50 shares during the last quarter. Finally, Jump Trading LLC raised its stake in Intercontinental Exchange by 0.4% during the second quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 68 shares during the last quarter. Institutional investors own 90.21% of the company’s stock.
Shares of Intercontinental Exchange Inc. (NYSE ICE) traded up $0.07 on Monday, hitting $66.27. The company had a trading volume of 1,621,700 shares, compared to its average volume of 2,656,807. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc. has a one year low of $53.91 and a one year high of $71.24. The company has a market capitalization of $39,220.00, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.45 and a beta of 0.68.
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, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Intercontinental Exchange’s revenue was up 6.0% compared to the same quarter last year. research analysts anticipate that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange declared that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
ICE has been the subject of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating and set a $73.00 price objective (up previously from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, August 15th. Barclays PLC assumed coverage on Intercontinental Exchange in a report on Friday, September 8th. They issued an “overweight” rating and a $72.00 target price for the company. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, Wells Fargo & Company lifted their target price on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.30.
In related news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $64.32, for a total transaction of $804,000.00. Following the transaction, the insider now directly owns 382,471 shares in the company, valued at $24,600,534.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total value of $5,246,600.80. The disclosure for this sale can be found here. Insiders sold 155,550 shares of company stock valued at $10,414,330 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Company Profile
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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