Harbour Capital Advisors LLC Boosts Holdings in Intercontinental Exchange Inc. (ICE)
Harbour Capital Advisors LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 14.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,060 shares of the financial services provider’s stock after buying an additional 1,675 shares during the period. Harbour Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $897,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. IHT Wealth Management LLC increased its stake in Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after buying an additional 18 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Intercontinental Exchange by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 8,483 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 29 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in shares of Intercontinental Exchange by 2.2% in the second quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 32 shares in the last quarter. Aspen Investment Management Inc grew its position in shares of Intercontinental Exchange by 0.6% in the second quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock valued at $581,000 after purchasing an additional 50 shares in the last quarter. Finally, Jump Trading LLC grew its position in shares of Intercontinental Exchange by 0.4% in the second quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock valued at $1,005,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.
In related 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total value of $5,246,600.80. The disclosure for this sale can be found here. Insiders sold 155,550 shares of company stock valued at $10,414,330 over the last quarter. 1.50% of the stock is currently owned by company insiders.
Shares of Intercontinental Exchange Inc. (NYSE ICE) traded up $1.49 during trading on Tuesday, reaching $68.08. The company had a trading volume of 3,136,000 shares, compared to its average volume of 2,655,805. The stock has a market capitalization of $39,830.00, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 2.47 and a beta of 0.68. Intercontinental Exchange Inc. has a 52 week low of $53.91 and a 52 week high of $71.24. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. equities research analysts predict that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange declared that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Intercontinental Exchange from $65.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 5th. Royal Bank Of Canada restated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $73.00 price target on shares of Intercontinental Exchange in a research report on Sunday, October 8th. UBS AG upped their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Citigroup Inc. upped their price target on Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $73.30.
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Intercontinental Exchange Company Profile
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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