Intercontinental Exchange Inc (NYSE:ICE) Director Jean Marc Forneri sold 6,000 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $58.27, for a total value of $349,620.00. Following the sale, the director now directly owns 47,350 shares of the company’s stock, valued at approximately $2,759,084.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Intercontinental Exchange Inc (NYSE:ICE) traded up 1.25% on Friday, reaching $59.32. The company had a trading volume of 3,018,823 shares. The stock’s 50 day moving average is $59.90 and its 200 day moving average is $58.15. Intercontinental Exchange Inc has a 52 week low of $48.15 and a 52 week high of $61.98. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 22.90 and a beta of 0.96.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Intercontinental Exchange had a net margin of 23.87% and a return on equity of 10.79%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $3.68 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange Inc will post $2.99 EPS for the current year.
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Several hedge funds have recently bought and sold shares of ICE. Friess Associates LLC increased its stake in Intercontinental Exchange by 206.4% in the fourth quarter. Friess Associates LLC now owns 1,869 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,259 shares in the last quarter. Hemenway Trust Co LLC increased its stake in Intercontinental Exchange by 150.0% in the fourth quarter. Hemenway Trust Co LLC now owns 2,400 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,440 shares in the last quarter. Johnson Financial Group Inc. increased its stake in Intercontinental Exchange by 415.6% in the fourth quarter. Johnson Financial Group Inc. now owns 2,413 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,945 shares in the last quarter. Elgethun Capital Management bought a new stake in Intercontinental Exchange during the fourth quarter valued at $138,000. Finally, Guardian Life Insurance Co. of America increased its stake in Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after buying an additional 16 shares in the last quarter. 28.85% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on ICE shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $70.00 price target on shares of Intercontinental Exchange in a research note on Monday, April 10th. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, March 8th. Royal Bank of Canada initiated coverage on Intercontinental Exchange in a research note on Friday, March 31st. They issued a “sector perform” rating and a $60.00 target price for the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $65.50 target price on shares of Intercontinental Exchange in a research note on Wednesday, April 12th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $66.00 target price (down previously from $67.00) on shares of Intercontinental Exchange in a research note on Monday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $62.63.
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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