TRUE Private Wealth Advisors Takes $568,000 Position in Intercontinental Exchange Inc (ICE)

TRUE Private Wealth Advisors bought a new position in Intercontinental Exchange Inc (NYSE:ICE) in the fourth quarter, Holdings Channel reports. The fund bought 8,048 shares of the financial services provider’s stock, valued at approximately $568,000.

A number of other large investors also recently bought and sold shares of the business. IHT Wealth Management LLC grew its position 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 worth $101,000 after purchasing an additional 18 shares during the period. Aspen Investment Management Inc grew its position in Intercontinental Exchange by 0.6% in the 2nd quarter. Aspen Investment Management Inc now owns 8,820 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 50 shares during the period. Jump Trading LLC grew its position in Intercontinental Exchange by 0.4% in the 2nd quarter. Jump Trading LLC now owns 15,248 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 68 shares during the period. Advisory Services Network LLC grew its position in Intercontinental Exchange by 0.5% in the 2nd quarter. Advisory Services Network LLC now owns 15,419 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 76 shares during the period. Finally, Gofen & Glossberg LLC IL grew its position in Intercontinental Exchange by 0.4% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 96,030 shares of the financial services provider’s stock worth $6,330,000 after purchasing an additional 426 shares during the period. 90.08% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Inc (ICE) opened at $75.60 on Friday. The firm has a market cap of $44,230.00, a price-to-earnings ratio of 27.49, a PEG ratio of 2.59 and a beta of 0.70. Intercontinental Exchange Inc has a one year low of $56.69 and a one year high of $75.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.64 EPS. equities research analysts forecast that Intercontinental Exchange Inc will post 2.94 earnings per share for the current fiscal year.

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

In related news, insider Dean S. Mathison sold 2,570 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total transaction of $179,308.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $68.52, for a total transaction of $856,500.00. Following the transaction, the insider now owns 382,471 shares in the company, valued at approximately $26,206,912.92. The disclosure for this sale can be found here. Insiders have sold a total of 60,368 shares of company stock worth $4,357,199 in the last quarter. Corporate insiders own 1.50% of the company’s stock.

A number of equities research analysts have commented on ICE shares. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 5th. Wells Fargo & Co lifted their target price on shares of Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $73.00 price target on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Barclays lifted their price target on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada lifted their price target on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.40.

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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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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