Verdence Capital Advisors LLC Cuts Position in Intercontinental Exchange Inc. $ICE

Verdence Capital Advisors LLC cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,298 shares of the financial services provider’s stock after selling 68 shares during the period. Verdence Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings 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 buying an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Intercontinental Exchange by 491.3% in the 1st 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 during the last quarter. Amundi increased 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 acquiring an additional 810,938 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent analyst reports. UBS Group increased their target price 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. Morgan Stanley lowered their price objective 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. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $199.60.

Intercontinental Exchange Stock Down 2.6%

Shares of NYSE:ICE opened at $153.29 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The firm’s 50-day simple moving average is $171.52 and its 200-day simple moving average is $173.64. The company has a market cap of $87.75 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.20 and a beta of 1.08. 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 released 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 return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.52 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by company insiders.

About Intercontinental Exchange

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.