Intercontinental Exchange Inc. (ICE) Shares Bought by Signature Estate & Investment Advisors LLC
Signature Estate & Investment Advisors LLC increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,956 shares of the financial services provider’s stock after purchasing an additional 7,066 shares during the period. Intercontinental Exchange accounts for 2.0% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 13th biggest holding. Signature Estate & Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $18,340,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Alerus Financial NA bought a new position in Intercontinental Exchange in the 2nd quarter valued at $4,256,000. NBT Bank N A NY acquired a new position in shares of Intercontinental Exchange in the second quarter valued at about $245,000. State of Tennessee Treasury Department increased its holdings in shares of Intercontinental Exchange by 32.8% in the second quarter. State of Tennessee Treasury Department now owns 216,187 shares of the financial services provider’s stock valued at $14,251,000 after purchasing an additional 53,449 shares during the period. Oak Ridge Investments LLC grew its holdings in Intercontinental Exchange by 7.2% during the second quarter. Oak Ridge Investments LLC now owns 250,107 shares of the financial services provider’s stock worth $16,487,000 after acquiring an additional 16,704 shares during the period. Finally, BB&T Securities LLC grew its holdings in Intercontinental Exchange by 140.0% during the second quarter. BB&T Securities LLC now owns 18,404 shares of the financial services provider’s stock worth $1,213,000 after acquiring an additional 10,735 shares during the period. 90.21% of the stock is currently owned by institutional investors and hedge funds.
ICE has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Sunday, October 8th. UBS AG raised their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 target price on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Royal Bank Of Canada reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Tuesday, August 15th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.30.
In other news, insider Charles A. Vice sold 12,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $64.32, for a total transaction of $804,000.00. Following the completion of the sale, the insider now directly owns 382,471 shares in the company, valued at $24,600,534.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Insiders sold a total of 155,550 shares of company stock worth $10,414,330 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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Intercontinental Exchange Inc. (ICE) traded up $0.81 on Tuesday, hitting $67.08. The company had a trading volume of 2,881,400 shares, compared to its average volume of 2,657,833. The firm has a market cap of $38,769.68, a PE ratio of 22.69, a P/E/G ratio of 2.45 and a beta of 0.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc. has a 1-year low of $53.91 and a 1-year high of $71.24.
Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS. equities analysts expect that Intercontinental Exchange Inc. will post 2.95 earnings per share for the current fiscal year.
Intercontinental Exchange announced that its board has authorized a share buyback plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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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