Wealth Alliance Lowers Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Wealth Alliance trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,631 shares of the financial services provider’s stock after selling 93 shares during the period. Wealth Alliance’s holdings in Intercontinental Exchange were worth $497,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Bradley Foster & Sargent Inc. CT boosted its position in Intercontinental Exchange by 57.5% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,425 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 1,615 shares during the last quarter. GDS Wealth Management grew its holdings in shares of Intercontinental Exchange by 8.4% during the 2nd quarter. GDS Wealth Management now owns 98,186 shares of the financial services provider’s stock worth $13,441,000 after purchasing an additional 7,650 shares during the period. Renaissance Technologies LLC boosted its stake in Intercontinental Exchange by 24.2% during the second quarter. Renaissance Technologies LLC now owns 216,957 shares of the financial services provider’s stock worth $29,699,000 after buying an additional 42,218 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Intercontinental Exchange by 343.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,509 shares of the financial services provider’s stock valued at $1,028,000 after purchasing an additional 5,814 shares during the last quarter. Finally, One Capital Management LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $320,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Barclays lifted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $158.87 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $163.71. The company’s fifty day moving average is $155.59 and its two-hundred day moving average is $142.60. The firm has a market capitalization of $91.13 billion, a P/E ratio of 36.44, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $1.43 earnings per share. Intercontinental Exchange’s revenue was up 22.7% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold 67,096 shares of company stock valued at $9,593,983 over the last quarter. 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.