Bard Financial Services Inc. Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Bard Financial Services Inc. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 37.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,650 shares of the financial services provider’s stock after selling 3,425 shares during the quarter. Bard Financial Services Inc.’s holdings in Intercontinental Exchange were worth $908,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. Annapolis Financial Services LLC boosted its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC acquired a new position in Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange in the second quarter worth $25,000. Finally, Fairscale Capital LLC acquired a new position in Intercontinental Exchange in the second quarter worth $25,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.3 %

NYSE:ICE traded down $0.50 during mid-day trading on Friday, hitting $162.76. The company had a trading volume of 2,233,038 shares, compared to its average volume of 2,495,323. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $164.18. The business’s fifty day moving average is $158.16 and its two-hundred day moving average is $144.36. 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 firm has a market cap of $93.36 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.81 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 the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. Barclays boosted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. 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. TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.80.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,316 shares of company stock valued at $9,835,609 over the last 90 days. 1.10% of the stock is owned by company 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.