Earnest Partners LLC lowered its stake in Intercontinental Exchange Inc (NYSE:ICE) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 833,965 shares of the financial services provider’s stock after selling 27,811 shares during the quarter. Earnest Partners LLC owned approximately 0.14% of Intercontinental Exchange worth $57,293,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ICE. Bessemer Group Inc. lifted its holdings in shares of Intercontinental Exchange by 186.5% in the second quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,240 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of Intercontinental Exchange by 11.7% in the second quarter. Global X Management Co. LLC now owns 11,393 shares of the financial services provider’s stock worth $751,000 after acquiring an additional 1,193 shares during the last quarter. Wetherby Asset Management Inc. lifted its holdings in shares of Intercontinental Exchange by 4.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,111 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 369 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Intercontinental Exchange by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,838,241 shares of the financial services provider’s stock worth $121,177,000 after acquiring an additional 73,925 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Intercontinental Exchange by 2.5% in the second quarter. Advisors Asset Management Inc. now owns 78,772 shares of the financial services provider’s stock worth $5,193,000 after acquiring an additional 1,914 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Inc (NYSE:ICE) opened at $70.93 on Friday. The stock has a market cap of $41,495.89, a P/E ratio of 24.29, a P/E/G ratio of 2.63 and a beta of 0.73. Intercontinental Exchange Inc has a fifty-two week low of $55.79 and a fifty-two week high of $72.99. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. equities analysts expect that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.

Intercontinental Exchange declared that its board has initiated a stock repurchase program on Thursday, November 2nd that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

In other Intercontinental Exchange news, Director Jean Marc Forneri sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total transaction of $565,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Hill sold 37,630 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total transaction of $2,635,228.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,130 shares of company stock valued at $5,468,644. 1.50% of the stock is owned by company insiders.

A number of research analysts have recently commented on the stock. 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 report on Thursday, October 5th. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. Barclays increased their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Royal Bank Of Canada increased their target price on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a report on Sunday, October 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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