SeaCrest Wealth Management LLC Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

SeaCrest Wealth Management LLC decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,670 shares of the financial services provider’s stock after selling 183 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Intercontinental Exchange were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 in the last quarter. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, Altshuler Shaham Ltd purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. Bank of America reduced their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Morgan Stanley raised their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup raised their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.29.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE ICE opened at $141.14 on Thursday. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $141.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $134.79 and a 200-day simple moving average of $133.12. The stock has a market capitalization of $80.96 billion, a PE ratio of 32.37, a PEG ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. Insiders sold 4,506 shares of company stock valued at $609,374 in the last three months. 1.10% of the stock is owned by corporate insiders.

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.