IntercontinentalExchange Group Inc. (ICE) Shares to Split on Friday, November 4th
IntercontinentalExchange Group Inc. (NYSE:ICE) shares are set to split on Friday, November 4th. The 5-1 split was announced on Wednesday, October 12th. The newly created shares will be payable to shareholders after the market closes on Thursday, November 3rd.
IntercontinentalExchange Group (NYSE:ICE) opened at 267.65 on Wednesday. IntercontinentalExchange Group has a 12 month low of $227.22 and a 12 month high of $287.02. The stock has a 50 day moving average price of $275.54 and a 200 day moving average price of $263.22. The stock has a market capitalization of $30.79 billion, a PE ratio of 22.08 and a beta of 0.92.
IntercontinentalExchange Group (NYSE:ICE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $3.43 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.05. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. IntercontinentalExchange Group had a return on equity of 10.72% and a net margin of 25.83%. The firm’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.90 EPS. On average, equities research analysts forecast that IntercontinentalExchange Group will post $13.80 earnings per share for the current fiscal year.
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Several analysts recently weighed in on ICE shares. Zacks Investment Research upgraded IntercontinentalExchange Group from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Deutsche Bank AG increased their target price on IntercontinentalExchange Group from $295.00 to $304.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Barclays PLC reiterated an “overweight” rating and set a $307.00 target price (up from $295.00) on shares of IntercontinentalExchange Group in a research note on Thursday, August 11th. Jefferies Group increased their target price on IntercontinentalExchange Group from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, October 11th. Finally, Keefe, Bruyette & Woods increased their target price on IntercontinentalExchange Group from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. IntercontinentalExchange Group currently has a consensus rating of “Buy” and an average target price of $297.33.
In related news, insider Charles A. Vice sold 1,500 shares of the stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $267.55, for a total value of $401,325.00. Following the transaction, the insider now directly owns 61,483 shares of the company’s stock, valued at approximately $16,449,776.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 25,275 shares of the stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $270.49, for a total transaction of $6,836,634.75. Following the completion of the transaction, the chief executive officer now directly owns 313,445 shares in the company, valued at $84,783,738.05. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in IntercontinentalExchange Group by 0.9% in the first quarter. State Street Corp now owns 4,607,392 shares of the company’s stock worth $1,083,386,000 after buying an additional 39,878 shares during the period. Bank of New York Mellon Corp increased its position in IntercontinentalExchange Group by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 3,112,039 shares of the company’s stock worth $796,555,000 after buying an additional 110,531 shares during the period. Wellington Management Group LLP increased its position in IntercontinentalExchange Group by 12.6% in the first quarter. Wellington Management Group LLP now owns 2,864,823 shares of the company’s stock worth $673,634,000 after buying an additional 319,612 shares during the period. Carmignac Gestion increased its position in IntercontinentalExchange Group by 12.0% in the second quarter. Carmignac Gestion now owns 2,633,120 shares of the company’s stock worth $673,973,000 after buying an additional 282,595 shares during the period. Finally, Neuberger Berman Group LLC increased its position in IntercontinentalExchange Group by 11.5% in the second quarter. Neuberger Berman Group LLC now owns 1,637,694 shares of the company’s stock worth $419,184,000 after buying an additional 168,569 shares during the period. 90.03% of the stock is currently owned by hedge funds and other institutional investors.
About IntercontinentalExchange Group
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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