Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,011 shares of the financial services provider’s stock after selling 151 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Intercontinental Exchange were worth $1,043,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ICE. Gilbert & Cook Inc. lifted its holdings in shares of Intercontinental Exchange by 5.5% in the 4th quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 188 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in Intercontinental Exchange by 29.9% during the fourth quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 1,752 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Intercontinental Exchange by 38.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock worth $511,000 after buying an additional 1,220 shares during the period. Advisory Services Network LLC grew its stake in shares of Intercontinental Exchange by 1.8% in the fourth quarter. Advisory Services Network LLC now owns 8,108 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 140 shares in the last quarter. Finally, Congress Wealth Management LLC DE acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $210,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $159.45 on Thursday. 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 company has a fifty day simple moving average of $156.26 and a 200-day simple moving average of $143.09. The stock has a market cap of $91.55 billion, a P/E ratio of 36.57, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,268 shares of company stock valued at $9,508,809. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Barclays increased their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $143.00 to $167.00 in a report on Monday, July 1st. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

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.