Sei Investments Co. Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Sei Investments Co. grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 398,803 shares of the financial services provider’s stock after buying an additional 49,933 shares during the period. Sei Investments Co. owned 0.07% of Intercontinental Exchange worth $54,592,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC grew its holdings in shares of 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 purchasing an additional 163 shares during the period. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the first quarter valued at approximately $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $159.84 on Monday. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $91.68 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08. The business’s 50 day moving average is $155.82 and its two-hundred day moving average is $142.80.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for 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 quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,166 shares of company stock worth $9,768,190. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased 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. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Citigroup boosted their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Barclays upped their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.