HF Advisory Group LLC Purchases New Position in Intercontinental Exchange Inc. $ICE

HF Advisory Group LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,215 shares of the financial services provider’s stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Brighton Jones LLC raised its holdings in 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 purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares during the period. NewEdge Advisors LLC increased its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina raised its stake in Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ICE shares. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Barclays reiterated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $150.35 on Friday. The company has a market cap of $84.40 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 1.48 and a beta of 0.92. The business’s fifty day simple moving average is $139.52 and its two-hundred day simple moving average is $152.97. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,725 shares of company stock worth $3,133,148 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.