Dimensional Fund Advisors LP Sells 9,820 Shares of Intercontinental Exchange Inc (ICE)
Dimensional Fund Advisors LP lessened its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,541,940 shares of the financial services provider’s stock after selling 9,820 shares during the period. Dimensional Fund Advisors LP owned 0.26% of Intercontinental Exchange worth $105,930,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its position 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 valued at $126,000 after acquiring an additional 1,240 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in shares of Intercontinental Exchange in the second quarter valued at about $1,304,000. BB&T Securities LLC lifted its position in shares of Intercontinental Exchange by 140.0% in the second quarter. BB&T Securities LLC now owns 18,404 shares of the financial services provider’s stock valued at $1,213,000 after acquiring an additional 10,735 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Intercontinental Exchange by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,703,457 shares of the financial services provider’s stock valued at $112,292,000 after acquiring an additional 27,151 shares in the last quarter. Finally, First National Trust Co. lifted its position in shares of Intercontinental Exchange by 2.2% in the second quarter. First National Trust Co. now owns 6,405 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 139 shares in the last quarter. 89.95% of the stock is owned by institutional investors and hedge funds.
Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $71.07 on Wednesday. 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 $41,659.71, a PE ratio of 24.39, a P/E/G ratio of 2.64 and a beta of 0.73. Intercontinental Exchange Inc has a 52-week low of $55.79 and a 52-week high of $72.99.
Intercontinental Exchange announced that its board has approved a share repurchase program on Thursday, November 2nd that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several equities analysts have recently commented on the company. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Barclays assumed coverage on Intercontinental Exchange in a research report on Friday, September 8th. They issued an “overweight” rating and a $72.00 price objective on the stock. Jefferies Group restated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research report on Wednesday, August 23rd. Citigroup boosted their price objective on Intercontinental Exchange from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research report on Sunday, October 8th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $74.44.
In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $71.93, for a total value of $539,475.00. Following the sale, the insider now directly owns 377,471 shares in the company, valued at $27,151,489.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jean Marc Forneri sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $70.68, for a total value of $565,440.00. The disclosure for this sale can be found here. Insiders sold 78,130 shares of company stock worth $5,468,644 over the last quarter. 1.50% of the stock is owned by company insiders.
About Intercontinental Exchange
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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