Insider Selling: Intercontinental Exchange Inc. (ICE) Insider Sells 12,500 Shares of Stock
Intercontinental Exchange Inc. (NYSE:ICE) insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $69.76, for a total transaction of $872,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Intercontinental Exchange Inc. (ICE) traded up 0.32% during trading on Tuesday, reaching $69.68. The company’s stock had a trading volume of 1,559,471 shares. The stock has a 50 day moving average price of $66.61 and a 200 day moving average price of $63.71. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $71.24. The stock has a market capitalization of $8.02 billion, a PE ratio of 25.82 and a beta of 0.74.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current fiscal year.
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ICE has been the subject of a number of recent research reports. Barclays PLC raised their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, August 15th. BidaskClub upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Citigroup Inc. assumed coverage on Intercontinental Exchange in a research report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price target for the company. Finally, Jefferies Group LLC restated a “buy” rating and issued a $73.00 price target (up from $70.00) on shares of Intercontinental Exchange in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $69.94.
A number of large investors have recently added to or reduced their stakes in ICE. ZWJ Investment Counsel Inc. purchased a new position in Intercontinental Exchange during the 1st quarter worth approximately $625,000. First Business Financial Services Inc. purchased a new position in Intercontinental Exchange during the 1st quarter worth approximately $508,000. Rafferty Asset Management LLC grew its stake in Intercontinental Exchange by 260.5% during the 1st quarter. Rafferty Asset Management LLC now owns 106,880 shares of the financial services provider’s stock worth $6,399,000 after buying an additional 77,232 shares during the last quarter. Findlay Park Partners LLP grew its stake in Intercontinental Exchange by 14.9% during the 1st quarter. Findlay Park Partners LLP now owns 2,120,320 shares of the financial services provider’s stock worth $126,944,000 after buying an additional 275,000 shares during the last quarter. Finally, Gofen & Glossberg LLC IL grew its stake in Intercontinental Exchange by 1.0% during the 1st quarter. Gofen & Glossberg LLC IL now owns 95,604 shares of the financial services provider’s stock worth $5,724,000 after buying an additional 976 shares during the last quarter. Hedge funds and other institutional investors own 89.75% of the company’s stock.
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.
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