Intercontinental Exchange, Inc. (NYSE:ICE) Position Lowered by Appleton Partners Inc. MA

Appleton Partners Inc. MA reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,904 shares of the financial services provider’s stock after selling 1,170 shares during the period. Intercontinental Exchange comprises approximately 1.3% of Appleton Partners Inc. MA’s holdings, making the stock its 16th largest holding. Appleton Partners Inc. MA’s holdings in Intercontinental Exchange were worth $17,173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Annapolis Financial Services LLC grew its holdings in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the 1st quarter worth about $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’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 transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at approximately $167,181,408.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was 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 $167,181,408.24. The disclosure for this sale can be found here. Insiders sold 68,316 shares of company stock valued at $9,835,609 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $160.91 on Thursday. The company has a market capitalization of $92.30 billion, a PE ratio of 36.91, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50 day simple moving average of $157.64 and a two-hundred day simple moving average of $144.03.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Barclays lifted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Royal Bank of Canada started coverage on shares of Intercontinental Exchange in a report on Friday, September 27th. They set an “outperform” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.47.

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.