Harmony Asset Management LLC Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Harmony Asset Management LLC decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 28.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,638 shares of the financial services provider’s stock after selling 7,515 shares during the period. Intercontinental Exchange comprises 1.1% of Harmony Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Harmony Asset Management LLC’s holdings in Intercontinental Exchange were worth $2,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ICE. American National Bank increased its stake in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of Intercontinental Exchange by 3.4% during the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Intercontinental Exchange by 1.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 74 shares in the last quarter. Founders Financial Securities LLC lifted its position in Intercontinental Exchange by 4.8% in the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 74 shares during the period. Finally, Pettyjohn Wood & White Inc. boosted its holdings in Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 75 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at $2,675,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,166 shares of company stock valued at $9,768,190. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ICE shares. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $159.84 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The business has a fifty day moving average of $155.82 and a 200-day moving average of $142.80. The stock has a market cap of $91.68 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.