New Century Financial Group LLC Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

New Century Financial Group LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 32.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,525 shares of the financial services provider’s stock after selling 722 shares during the quarter. New Century Financial Group LLC’s holdings in Intercontinental Exchange were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. American National Bank grew its position in shares of 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 purchasing an additional 69 shares in the last quarter. Veracity Capital LLC grew its position in shares of Intercontinental Exchange by 3.4% in the third quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 72 shares in the last quarter. Catalyst Financial Partners LLC grew its position in shares of Intercontinental Exchange by 3.4% in 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. grew its position in shares of Intercontinental Exchange by 1.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 74 shares in the last quarter. Finally, Founders Financial Securities LLC grew its position in shares of Intercontinental Exchange by 4.8% in the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 74 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at approximately $4,323,846.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,532 shares of company stock valued at $1,358,709. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $172.80.

Intercontinental Exchange Trading Down 0.3 %

NYSE ICE opened at $166.37 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $167.23. 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 50-day moving average of $160.80 and a 200-day moving average of $146.53. The firm has a market cap of $95.43 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.62 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company posted $1.43 EPS. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.08 EPS 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.