Intercontinental Exchange Inc. $ICE Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,618 shares of the financial services provider’s stock after selling 173 shares during the period. Intercontinental Exchange accounts for 0.9% of Brown Miller Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Brown Miller Wealth Management LLC’s holdings in Intercontinental Exchange were worth $2,865,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Tsfg LLC increased its stake in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares during the last quarter. Activest Wealth Management increased its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the last quarter. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares during the period. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at $30,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $162.47 on Friday. The business’s 50-day simple moving average is $176.53 and its 200 day simple moving average is $174.68. The company has a market cap of $93.00 billion, a P/E ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.52 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,874 shares of company stock worth $42,187,714. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ICE. Morgan Stanley cut their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Barclays increased their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $198.20.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.