Newbridge Financial Services Group Inc. Sells 199 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Newbridge Financial Services Group Inc. decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 50.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 197 shares of the financial services provider’s stock after selling 199 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. Vanguard Group Inc. raised its position in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after acquiring an additional 1,790,493 shares during the last quarter. CCLA Investment Management increased its stake in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth $124,508,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,316 shares of company stock worth $9,835,609 over the last three months. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ICE. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Raymond James raised their target price on shares of Intercontinental Exchange from $174.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Friday. Bank of America upped their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.80.

Intercontinental Exchange Stock Performance

ICE stock opened at $162.74 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average price of $158.16 and a 200 day moving average price of $144.36. The company has a market capitalization of $93.35 billion, a P/E ratio of 37.33, 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 $164.18.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

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.