Intercontinental Exchange Inc (ICE) Vice Chairman Charles A. Vice Sells 35,000 Shares

Intercontinental Exchange Inc (NYSE:ICE) Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $79.75, for a total transaction of $2,791,250.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of ICE traded down $1.16 during mid-day trading on Friday, hitting $78.10. The company had a trading volume of 73,701 shares, compared to its average volume of 3,014,741. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc has a 1-year low of $66.92 and a 1-year high of $82.65. The stock has a market capitalization of $45.07 billion, a PE ratio of 26.62, a P/E/G ratio of 2.27 and a beta of 0.50.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 11.67%. Intercontinental Exchange’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc will post 3.53 earnings per share for the current fiscal year.

Intercontinental Exchange declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 31st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research reiterated a “buy” rating and set a $86.00 price target on shares of Intercontinental Exchange in a report on Tuesday, November 13th. Barclays raised their target price on shares of Intercontinental Exchange from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, November 1st. Atlantic Securities started coverage on shares of Intercontinental Exchange in a research report on Wednesday, November 28th. They issued an “overweight” rating on the stock. ValuEngine raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Finally, Raymond James raised their target price on shares of Intercontinental Exchange from $81.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, November 1st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $84.50.

A number of hedge funds have recently made changes to their positions in ICE. Capital World Investors lifted its position in Intercontinental Exchange by 464.9% during the third quarter. Capital World Investors now owns 15,031,546 shares of the financial services provider’s stock valued at $1,125,712,000 after buying an additional 12,370,546 shares in the last quarter. Millennium Management LLC lifted its position in Intercontinental Exchange by 3,708.6% during the second quarter. Millennium Management LLC now owns 2,055,613 shares of the financial services provider’s stock valued at $151,190,000 after buying an additional 2,112,577 shares in the last quarter. Swedbank acquired a new position in Intercontinental Exchange during the third quarter valued at approximately $106,185,000. TIAA CREF Investment Management LLC lifted its position in Intercontinental Exchange by 112.2% during the third quarter. TIAA CREF Investment Management LLC now owns 2,661,565 shares of the financial services provider’s stock valued at $199,325,000 after buying an additional 1,407,479 shares in the last quarter. Finally, Senator Investment Group LP lifted its position in Intercontinental Exchange by 140.0% during the second quarter. Senator Investment Group LP now owns 2,400,000 shares of the financial services provider’s stock valued at $176,520,000 after buying an additional 1,400,000 shares in the last quarter. 89.09% of the stock is currently owned by hedge funds and other institutional investors.

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About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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