Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,431 shares of the financial services provider’s stock after selling 120 shares during the period. Intercontinental Exchange accounts for approximately 1.5% of Oak Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Oak Asset Management LLC’s holdings in Intercontinental Exchange were worth $3,907,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. LVW Advisors LLC lifted its position in Intercontinental Exchange by 6.9% during the first quarter. LVW Advisors LLC now owns 2,184 shares of the financial services provider’s stock worth $300,000 after buying an additional 141 shares during the period. Fiduciary Alliance LLC purchased a new position in Intercontinental Exchange during the first quarter worth about $1,798,000. D.B. Root & Company LLC lifted its position in Intercontinental Exchange by 12.0% during the first quarter. D.B. Root & Company LLC now owns 3,436 shares of the financial services provider’s stock worth $472,000 after buying an additional 368 shares during the period. Annapolis Financial Services LLC lifted its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. Finally, Founders Financial Securities LLC purchased a new position in Intercontinental Exchange during the first quarter worth about $210,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Rosenblatt Securities restated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a report on Friday, May 3rd. Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Finally, Barclays cut their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $151.29.

Intercontinental Exchange Trading Down 0.4 %

ICE opened at $136.89 on Monday. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $140.43. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $78.52 billion, a PE ratio of 31.40, a P/E/G ratio of 2.55 and a beta of 1.06. The firm’s fifty day moving average price is $134.52 and its 200 day moving average price is $132.90.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s revenue was up 20.8% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold 62,894 shares of company stock worth $8,620,792 over the last quarter. 1.10% of the stock is owned by corporate 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.