Intercontinental Exchange Inc. (ICE) Shares Sold by Synovus Financial Corp
Synovus Financial Corp decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.0% during the third quarter, Holdings Channel reports. The institutional investor owned 2,092 shares of the company’s stock after selling 109 shares during the period. Synovus Financial Corp’s holdings in Intercontinental Exchange were worth $561,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Intercontinental Exchange during the second quarter worth about $102,000. LSV Asset Management bought a new position in shares of Intercontinental Exchange during the second quarter worth about $116,000. Johnson Financial Group Inc. raised its position in shares of Intercontinental Exchange by 225.0% in the second quarter. Johnson Financial Group Inc. now owns 468 shares of the company’s stock worth $120,000 after buying an additional 324 shares during the last quarter. WFG Advisors LP raised its position in shares of Intercontinental Exchange by 23.8% in the second quarter. WFG Advisors LP now owns 618 shares of the company’s stock worth $158,000 after buying an additional 119 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Intercontinental Exchange by 0.5% in the second quarter. Quadrant Capital Group LLC now owns 661 shares of the company’s stock worth $165,000 after buying an additional 3 shares during the last quarter. 17.77% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange Inc. (NYSE:ICE) traded up 0.19% during midday trading on Friday, reaching $56.83. 1,963,286 shares of the company’s stock traded hands. Intercontinental Exchange Inc. has a 1-year low of $45.44 and a 1-year high of $59.86. The stock’s 50 day moving average price is $57.24 and its 200 day moving average price is $55.00. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 23.28 and a beta of 0.90.
Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.22 by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Intercontinental Exchange had a net margin of 25.29% and a return on equity of 10.57%. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted $2.91 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post $2.75 EPS for the current year.
A number of brokerages have recently issued reports on ICE. Jefferies Group upped their target price on shares of Intercontinental Exchange from $62.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, December 20th. Evercore ISI reiterated a “buy” rating and set a $63.00 target price on shares of Intercontinental Exchange in a research report on Saturday, December 17th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $60.27.
In related news, insider Charles A. Vice sold 1,500 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $264.84, for a total transaction of $397,260.00. Following the sale, the insider now directly owns 61,483 shares of the company’s stock, valued at approximately $16,283,157.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles A. Vice sold 5,000 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $57.08, for a total transaction of $285,400.00. Following the sale, the insider now directly owns 304,915 shares in the company, valued at $17,404,548.20. The disclosure for this sale can be found here. Corporate insiders own 1.40% 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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