Traders Sell Shares of Intercontinental Exchange Inc. (ICE) on Strength (ICE)

Investors sold shares of Intercontinental Exchange Inc. (NYSE:ICE) on strength during trading on Monday. $14.68 million flowed into the stock on the tick-up and $36.00 million flowed out of the stock on the tick-down, for a money net flow of $21.32 million out of the stock. Of all companies tracked, Intercontinental Exchange had the 0th highest net out-flow for the day. Intercontinental Exchange traded up $0.43 for the day and closed at $69.46

A number of equities research analysts recently weighed in on ICE shares. BidaskClub raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Intercontinental Exchange in a research note on Monday, June 26th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price on the stock. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $69.94.

The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 25.82 and a beta of 0.74. The company’s 50-day moving average price is $66.76 and its 200 day moving average price is $63.78.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. On average, equities analysts predict that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.

In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold a total of 155,550 shares of company stock worth $10,394,455 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 2.1% during the 2nd 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. raised its holdings in shares of Intercontinental Exchange by 1.1% during the 2nd 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. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 2.8% during the 1st quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after acquiring an additional 721,080 shares in the last quarter. State Street Corp raised its holdings in shares of Intercontinental Exchange by 1.9% during the 1st quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after acquiring an additional 481,909 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Intercontinental Exchange by 19.9% during the 2nd quarter. Northern Trust Corp now owns 11,355,

A number of equities research analysts recently weighed in on ICE shares. BidaskClub raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Intercontinental Exchange in a research note on Monday, June 26th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 target price on the stock. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $69.94.

The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 25.82 and a beta of 0.74. The company’s 50-day moving average price is $66.76 and its 200 day moving average price is $63.78.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. On average, equities analysts predict that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.

In other news, CEO Jeffrey C. Sprecher sold 80,420 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $65.24, for a total transaction of $5,246,600.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders have sold a total of 155,550 shares of company stock worth $10,394,455 over the last ninety days. Insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 2.1% during the 2nd 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. raised its holdings in shares of Intercontinental Exchange by 1.1% during the 2nd 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. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 2.8% during the 1st quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after acquiring an additional 721,080 shares in the last quarter. State Street Corp raised its holdings in shares of Intercontinental Exchange by 1.9% during the 1st quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after acquiring an additional 481,909 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Intercontinental Exchange by 19.9% during the 2nd 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. 89.75% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This article was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/traders-sell-shares-of-intercontinental-exchange-inc-ice-on-strength-ice.html.

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.

Receive News & Ratings for Intercontinental Exchange Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply