Rhumbline Advisers Increases Position in Intercontinental Exchange Inc. (ICE)

Rhumbline Advisers increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,039,493 shares of the financial services provider’s stock after acquiring an additional 17,477 shares during the quarter. Rhumbline Advisers owned about 0.18% of Intercontinental Exchange worth $71,413,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thompson Davis & CO. Inc. increased its holdings in Intercontinental Exchange by 2.2% in the 2nd 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 period. IHT Wealth Management LLC increased its holdings in Intercontinental Exchange by 10.8% in the 2nd 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 period. Norway Savings Bank increased its holdings in Intercontinental Exchange by 16.7% in the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock valued at $108,000 after buying an additional 235 shares during the period. Bessemer Group Inc. increased its holdings in Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,240 shares during the period. Finally, Shine Investment Advisory Services Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $128,000. 90.21% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the stock. UBS AG upped their target price on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Citigroup Inc. upped their target price on shares of Intercontinental Exchange from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, August 15th. Barclays PLC upped their price target 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. Finally, Wells Fargo & Company upped their price target on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $73.30.

In other news, CFO Scott A. Hill sold 37,630 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $68.52, for a total value of $856,500.00. Following the completion of the sale, the insider now directly owns 382,471 shares of the company’s stock, valued at approximately $26,206,912.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,550 shares of company stock valued at $10,414,330. 1.50% of the stock is owned by company insiders.

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Intercontinental Exchange Inc. (NYSE ICE) traded up $0.07 during midday trading on Monday, reaching $66.27. The company had a trading volume of 1,621,700 shares, compared to its average volume of 2,656,807. Intercontinental Exchange Inc. has a twelve month low of $53.91 and a twelve month high of $71.24. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $39,220.00, a PE ratio of 22.69, a price-to-earnings-growth ratio of 2.45 and a beta of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business earned $0.64 EPS. Intercontinental Exchange’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts anticipate that Intercontinental Exchange Inc. will post 2.95 EPS for the current fiscal year.

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

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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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