Sequoia Financial Advisors LLC Boosts Stock Position in Intercontinental Exchange Inc. $ICE

Sequoia Financial Advisors LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 90.0% in the second quarter, HoldingsChannel.com reports. The firm owned 23,117 shares of the financial services provider’s stock after purchasing an additional 10,949 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intercontinental Exchange were worth $4,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Intercontinental Exchange by 1.4% during 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 buying an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares in the last quarter. Amundi lifted its position 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 worth $1,060,574,000 after purchasing an additional 810,938 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Intercontinental Exchange by 0.5% in 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 purchasing an additional 31,588 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 113.9% in 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 purchasing an additional 3,165,381 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $158.25 on Wednesday. The company’s 50-day moving average is $172.83 and its 200 day moving average is $173.89. The company has a market capitalization of $90.58 billion, a price-to-earnings ratio of 30.37, a price-to-earnings-growth ratio of 2.21 and a beta of 1.08. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. 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 (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday. Morgan Stanley reduced their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 1st. Barclays restated an “overweight” rating and set a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $199.60.

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.