D.B. Root & Company LLC Has $213,000 Stake in Intercontinental Exchange Inc. $ICE

D.B. Root & Company LLC cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 7.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,162 shares of the financial services provider’s stock after selling 92 shares during the quarter. D.B. Root & Company LLC’s holdings in Intercontinental Exchange were worth $213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after acquiring an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Amundi boosted its holdings in shares of Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after purchasing an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after buying an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,874 shares of company stock worth $42,187,714. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 2.3%

Shares of NYSE:ICE opened at $158.96 on Tuesday. The firm has a market cap of $90.99 billion, a P/E ratio of 30.51, a P/E/G ratio of 1.98 and a beta of 1.08. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The business has a fifty day simple moving average of $176.06 and a 200 day simple moving average of $174.56. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

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

Wall Street Analyst Weigh In

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