Brown Financial Advisors Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Brown Financial Advisors bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,304 shares of the financial services provider’s stock, valued at approximately $726,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Clearbridge Investments LLC boosted its stake in shares of Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after buying an additional 284,664 shares during the last quarter. New Century Financial Group LLC boosted its stake in shares of Intercontinental Exchange by 38.6% in the second quarter. New Century Financial Group LLC now owns 2,247 shares of the financial services provider’s stock worth $308,000 after buying an additional 626 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Intercontinental Exchange by 3.2% in the second quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock worth $8,748,000 after buying an additional 2,006 shares during the last quarter. SPC Financial Inc. boosted its stake in shares of Intercontinental Exchange by 2.2% in the second quarter. SPC Financial Inc. now owns 26,234 shares of the financial services provider’s stock worth $3,591,000 after buying an additional 572 shares during the last quarter. Finally, Advisory Alpha LLC boosted its stake in shares of Intercontinental Exchange by 35.4% in the second quarter. Advisory Alpha LLC now owns 2,042 shares of the financial services provider’s stock worth $280,000 after buying an additional 534 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on ICE shares. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. 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 report on Monday, September 16th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Royal Bank of Canada started coverage on Intercontinental Exchange in a report on Friday, September 27th. They issued an “outperform” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $162.47.

Insider Buying and Selling

In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The disclosure for this sale can be found here. Insiders sold 68,316 shares of company stock valued at $9,835,609 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.3 %

Shares of NYSE ICE opened at $161.15 on Wednesday. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $157.37 and a 200-day simple moving average of $143.91. The stock has a market capitalization of $92.43 billion, a PE ratio of 36.96, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released 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. 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 EPS. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

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.