Intercontinental Exchange Inc. $ICE Position Lessened by BIP Wealth LLC

BIP Wealth LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166 shares of the financial services provider’s stock after selling 83 shares during the quarter. BIP Wealth LLC’s holdings in Intercontinental Exchange were worth $214,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the period. GAMMA Investing LLC grew its position in Intercontinental Exchange by 42.0% in the 1st quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock worth $2,265,000 after purchasing an additional 3,883 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Intercontinental Exchange by 32.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 32,751 shares of the financial services provider’s stock valued at $5,650,000 after purchasing an additional 8,077 shares during the period. Golden State Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 279.7% during the first quarter. Golden State Wealth Management LLC now owns 1,310 shares of the financial services provider’s stock valued at $226,000 after buying an additional 965 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 1.5% during the first quarter. Perigon Wealth Management LLC now owns 15,172 shares of the financial services provider’s stock worth $2,617,000 after buying an additional 226 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $198.60.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,162 shares of company stock valued at $43,642,652. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $157.71 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $90.28 billion, a PE ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. The business has a fifty day simple moving average of $168.26 and a 200-day simple moving average of $173.56. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.