Janney Montgomery Scott LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Janney Montgomery Scott LLC boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,458 shares of the financial services provider’s stock after acquiring an additional 10,051 shares during the period. Janney Montgomery Scott LLC’s holdings in Intercontinental Exchange were worth $11,840,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ICE. Wolff Wiese Magana LLC grew its holdings in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange in the third quarter worth $26,000. Financial Management Professionals Inc. raised its holdings in Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $29,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $157.52 on Monday. The firm has a market capitalization of $90.44 billion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.95 and a beta of 1.10. The firm’s fifty day simple moving average is $152.98 and its 200-day simple moving average is $156.07. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.46 EPS. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ICE. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lowered their price target on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Barclays cut their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,795 shares of company stock worth $2,120,572 in the last quarter. 1.10% of the stock is owned by 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.