Moran Wealth Management LLC Sells 556 Shares of Intercontinental Exchange Inc. $ICE

Moran Wealth Management LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,176 shares of the financial services provider’s stock after selling 556 shares during the quarter. Moran Wealth Management LLC’s holdings in Intercontinental Exchange were worth $766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Amundi grew its stake in Intercontinental Exchange by 14.7% in the first 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 in the last quarter. Independent Franchise Partners LLP grew 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 worth $1,068,193,000 after purchasing an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP grew 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 worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 2.6%

Shares of NYSE ICE opened at $153.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $87.75 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.20 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 stock’s fifty day simple moving average is $171.52 and its two-hundred day simple moving average is $173.64.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. JPMorgan Chase & Co. increased 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. Barclays reaffirmed an “overweight” rating and set a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.60.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is currently owned by corporate insiders.

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.