Pacer Advisors Inc. Sells 1,059 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Pacer Advisors Inc. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 59,237 shares of the financial services provider’s stock after selling 1,059 shares during the period. Pacer Advisors Inc.’s holdings in Intercontinental Exchange were worth $8,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $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 valued at $25,000 after buying an additional 163 shares in the last quarter. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the 1st quarter valued at about $26,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $159.96 on Tuesday. The business has a 50 day moving average of $156.07 and a 200 day moving average of $142.95. The company has a market capitalization of $91.75 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company 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. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,166 shares of company stock worth $9,768,190. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange 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.