Legacy Financial Advisors Inc. Sells 81 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Legacy Financial Advisors Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,913 shares of the financial services provider’s stock after selling 81 shares during the period. Legacy Financial Advisors Inc.’s holdings in Intercontinental Exchange were worth $262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Annapolis Financial Services LLC grew its holdings in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth about $25,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth approximately $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.6 %

NYSE ICE opened at $159.84 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50 day moving average price is $155.82 and its two-hundred day moving average price is $142.77. The stock has a market capitalization of $91.68 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08.

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

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 1,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related 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 transaction, the insider now directly owns 14,636 shares in the company, valued at $2,174,909.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. The disclosure for this sale can be found here. Insiders sold a total of 68,166 shares of company stock worth $9,768,190 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Barclays upped their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

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.