PHH Investments Ltd. cut its stake in Intercontinental Exchange Inc (NYSE:ICE) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,575 shares of the financial services provider’s stock after selling 1,714 shares during the period. Intercontinental Exchange makes up 0.5% of PHH Investments Ltd.’s holdings, making the stock its 28th largest position. PHH Investments Ltd.’s holdings in Intercontinental Exchange were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. IHT Wealth Management LLC lifted its stake in Intercontinental Exchange by 10.8% in the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 18 shares during the last quarter. Thompson Davis & CO. Inc. lifted its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 32 shares during the last quarter. Bessemer Group Inc. lifted its stake in Intercontinental Exchange by 186.5% in the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,240 shares during the last quarter. First Personal Financial Services lifted its stake in Intercontinental Exchange by 20.4% in the 2nd quarter. First Personal Financial Services now owns 2,122 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 360 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Intercontinental Exchange by 4.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,507 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 107 shares during the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Scott A. Hill sold 37,630 shares of Intercontinental Exchange 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jean Marc Forneri sold 8,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $70.68, for a total transaction of $565,440.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,130 shares of company stock worth $5,468,644. 1.50% of the stock is owned by company insiders.

ICE has been the subject of several recent analyst reports. Barclays raised their target price on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. UBS increased their price target on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Jefferies Group reissued a “buy” rating and issued a $73.00 price target on shares of Intercontinental Exchange in a report on Wednesday, August 23rd. Citigroup increased their price target on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.30.

Shares of Intercontinental Exchange Inc (ICE) traded up $0.54 during trading hours on Monday, reaching $70.93. 1,653,100 shares of the company were exchanged, compared to its average volume of 2,671,753. 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 debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $41,495.91, a PE ratio of 24.29, a price-to-earnings-growth ratio of 2.63 and a beta of 0.73.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.14 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. sell-side analysts predict that Intercontinental Exchange Inc will post 2.95 EPS for the current fiscal year.

Intercontinental Exchange declared that its Board of Directors has authorized a share 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 buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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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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