Heritage Wealth Management Inc. Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Heritage Wealth Management Inc. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,450 shares of the financial services provider’s stock, valued at approximately $627,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American National Bank lifted its stake in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares during the last quarter. Catalyst Financial Partners LLC raised its position in 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 valued at $304,000 after purchasing an additional 73 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Intercontinental Exchange by 1.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after buying an additional 74 shares in the last quarter. Founders Financial Securities LLC raised its stake in Intercontinental Exchange by 4.8% during the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 74 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. lifted its stake 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 during the last quarter. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ICE. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Barclays upped their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada initiated coverage on shares of Intercontinental Exchange in a research 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.47.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $160.91 on Thursday. The company has a market cap of $92.30 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.81 and a beta of 1.08. 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 stock’s 50 day simple moving average is $157.64 and its two-hundred day simple moving average is $144.03. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company 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 company earned $1.43 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction on 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 directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,316 shares of company stock worth $9,835,609. Company insiders own 1.10% of the company’s stock.

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.