Sunbelt Securities Inc. Sells 120 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sunbelt Securities Inc. cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,887 shares of the financial services provider’s stock after selling 120 shares during the quarter. Sunbelt Securities Inc.’s holdings in Intercontinental Exchange were worth $259,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in Intercontinental Exchange during the 4th quarter valued at about $25,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Altshuler Shaham Ltd bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Finally, Sachetta LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $137.47 on Friday. The stock has a 50-day simple moving average of $134.27 and a two-hundred day simple moving average of $132.54. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $140.43. The firm has a market capitalization of $78.85 billion, a PE ratio of 31.53, a P/E/G ratio of 2.56 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup boosted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Barclays dropped their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Bank of America decreased their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Argus restated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $148.29.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The disclosure for this sale can be found here. Insiders sold a total of 60,996 shares of company stock valued at $8,361,411 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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.