Newbridge Financial Services Group Inc. Sells 131 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Newbridge Financial Services Group Inc. cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 23.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 417 shares of the financial services provider’s stock after selling 131 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $54,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Intercontinental Exchange by 8.5% in the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after buying an additional 1,991 shares during the last quarter. Point72 Europe London LLP increased its holdings in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after buying an additional 6,500 shares during the last quarter. Finally, LGT Group Foundation increased its holdings in shares of Intercontinental Exchange by 36.0% in the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after buying an additional 94,039 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $136.42 on Wednesday. The stock has a market cap of $78.25 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 2.54 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $140.43. The firm has a 50-day moving average of $133.60 and a two-hundred day moving average of $131.67.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICE. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Citigroup lifted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. Finally, Bank of America dropped their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $148.29.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,238 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the sale, the director now owns 29,347 shares in the company, valued at approximately $4,031,103.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Judith A. Sprieser sold 2,238 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the sale, the director now owns 29,347 shares in the company, valued at approximately $4,031,103.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,234 shares of company stock worth $8,668,823. 1.10% of the stock is currently owned by corporate 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.