[fm]: Intercontinental Exchange Inc. Sees Unusual Trading Volume in Its Shares

Intercontinental Exchange Inc. (NYSE:ICE) shares saw heavy trading volume with 1,799K shares changing hands in the
last trading session. Shares saw a steep increase in trading volume of 177.39% over the normal average daily volume.

There has been some selling insider activity on Intercontinental Exchange Inc. (NYSE:ICE) recently. President&Chief Op. Officer Charles A. Vice disclosed the sale of 15,000 shares of (ICE). The shares were sold on July 6th for an average price of $66.33. Vice now owns $24,540,176 of the stock according to the SEC filing. Jean Marc Forneri, Director let go of $252,000 worth of shares at a price of $63.00 on June 8th. Forneri now owns $1,719,900 of stock as recorded in a recent Form 4 SEC filing.

Jean Marc Forneri, Director disclosed the sale of 19,000 shares of ICE stock. The shares were purchased at an average price of $61.77. The Director now owns $1,933,401 of the stock per the Form 4 SEC filing.

The following firms have also recently changed their position in ICE. Clearbridge, LLC added to its holdings by buying 293,900 shares an increase of 32.1% as of 06/30/2017. Clearbridge, LLC owns 1,209,357 shares worth $79,721,000. The value of the position overall is up by 45.5%. As of the end of the quarter Strs Ohio had sold a total of 103,489 shares trimming its holdings by 8.0%. The value of the total investment in Intercontinental Exchange Inc. went from $77,164,000 to $78,139,000 a change of 1.3% for the reporting period.

Janus Capital Management LLC divested its investment by shedding 4,723,567 shares a decrease of 86.9%. Janus Capital Management LLC currently owns 709,270 shares valued at $42,464,000. The total value of its holdings decreased 86.2%. As of quarter end Cramer Rosenthal Mcglynn LLC had acquired 369,640 shares growing its position 169.0%. The value in dollars increased from $13,098,000 to $38,789,000 a change of $25,691,000 since the last quarter.

On July 17 Jefferies maintained a company rating of “Buy” but lowered the price target from $310.00 to $73.00. On July 13 the company was upgraded to “Sector Outperform” from “Buy” in a statement from RBC Capital.

On July 12 analysts at Citigroup starting coverage on ICE with an initial rating of “Neutral”.

In the market the company is trading up by 1.10% since yesterday’s close of $64.7. Intercontinental Exchange Inc. declared a dividend for shareholders to be paid on Friday the 29th of September 2017. The dividend payment will be $0.200 per share for the quarter which comes to $0.80 on an annualized basis. The dividend yield will be $1.23. The ex-dividend date is set for Wednesday the 14th of June 2017.

Shares of the company are trading at $65.41 a tad below $65.69, the stock’s 50 day moving average and a tad above the 200 day moving average of $61.98. The 50 day moving average went down $-0.28 or -0.43% whereas the 200 day average was up by +5.54%.

The company currently has a P/E ratio of 24.23 and the market cap is 7.53B. As of the latest earnings report the EPS was $2.70 and is projected to be $2.95 for the current year with 115,047,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.75 with next year’s EPS projected to be $3.36.

Intercontinental Exchange, Inc., launched on March 6, 2013, is an operator of regulated exchanges, clearing houses and listings venues. The Company provides data services for commodity and financial markets. The Business’s segments include Trading and Clearing segment, and Data and Listings segment. The Trading and Clearing segment includes the Business’s transaction-based execution and clearing businesses. The Business’s Data and Listings segment includes its subscription-based data services and securities listings businesses. 

The Company operates regulated marketplaces for listing, trading and clearing a range of derivatives and securities contracts across the asset classes, including energy and agricultural commodities, interest rates, equities, equity derivatives, exchange traded funds, credit derivatives, bonds and currencies. The Company offers market data services to support the trading, investment, risk management and connectivity needs of customers across a range of asset classes.

By: Larry Kramer (Modern Readers). 

Photo: Getty Images. 

Review: Emerging Market Formulations & Research Unit, Flagship Records.