Intercontinental Exchange Inc. $ICE Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,110 shares of the financial services provider’s stock after selling 360 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Intercontinental Exchange were worth $4,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new stake in Intercontinental Exchange during the second quarter worth $28,000. Tsfg LLC boosted its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Activest Wealth Management boosted 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 in the last quarter. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the second quarter worth $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange during the first quarter worth $30,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the 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 transaction, the general counsel directly owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,162 shares of company stock valued at $43,642,652 in the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Morgan Stanley decreased their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Barclays reiterated an “overweight” rating and set a $201.00 target price (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 Saturday. Finally, Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.60.

Intercontinental Exchange Stock Up 0.2%

Shares of NYSE:ICE opened at $157.71 on Monday. 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 Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock’s fifty day simple moving average is $168.26 and its 200-day simple moving average is $173.68. The company has a market capitalization of $90.28 billion, a P/E ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08.

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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the business earned $1.52 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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.