Heritage Trust Co Has $2.13 Million Stake in Intercontinental Exchange Inc (ICE)
Heritage Trust Co reduced its position in Intercontinental Exchange Inc (NYSE:ICE) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,962 shares of the financial services provider’s stock after selling 1,289 shares during the quarter. Heritage Trust Co’s holdings in Intercontinental Exchange were worth $2,127,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of ICE. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 2.1% during the second quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock worth $2,647,541,000 after acquiring an additional 844,270 shares in the last quarter. BlackRock Inc. boosted its stake in Intercontinental Exchange by 1.1% during the second quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock worth $2,336,613,000 after acquiring an additional 396,042 shares in the last quarter. Northern Trust Corp boosted its stake in Intercontinental Exchange by 19.9% during the second quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock worth $748,538,000 after acquiring an additional 1,883,432 shares in the last quarter. Carmignac Gestion boosted its stake in Intercontinental Exchange by 0.4% during the second quarter. Carmignac Gestion now owns 10,375,555 shares of the financial services provider’s stock worth $683,957,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 1,254.2% during the second quarter. Janus Henderson Group PLC now owns 9,048,533 shares of the financial services provider’s stock worth $596,480,000 after acquiring an additional 8,380,362 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.
ICE has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday, August 15th. Jefferies Group reissued a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Barclays initiated coverage on shares of Intercontinental Exchange in a research note on Friday, September 8th. They set an “overweight” rating and a $72.00 target price on the stock. Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, Wells Fargo & Company increased their target price on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.30.
Intercontinental Exchange Inc (ICE) traded down $0.88 on Wednesday, reaching $70.95. 3,436,500 shares of the company’s stock traded hands, compared to its average volume of 2,677,853. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc has a 1 year low of $55.79 and a 1 year high of $72.99. The firm has a market capitalization of $42,022.43, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.66 and a beta of 0.73.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. analysts forecast that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.
Intercontinental Exchange announced that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Intercontinental Exchange news, CFO Scott A. Hill sold 37,630 shares of the company’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total transaction of $2,635,228.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $71.93, for a total transaction of $539,475.00. Following the transaction, the insider now owns 377,471 shares in the company, valued at approximately $27,151,489.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,630 shares of company stock worth $5,707,204. Corporate insiders own 1.50% of the company’s stock.
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Intercontinental Exchange 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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