Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Embree Financial Group

Embree Financial Group cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,128 shares of the financial services provider’s stock after selling 449 shares during the period. Embree Financial Group’s holdings in Intercontinental Exchange were worth $702,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Annapolis Financial Services LLC increased its holdings in 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 valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the first quarter worth $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Argus reaffirmed a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Barclays lifted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Intercontinental Exchange Price Performance

Shares of ICE opened at $161.55 on Monday. The firm has a market capitalization of $92.75 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. The firm’s fifty day simple moving average is $149.68 and its 200-day simple moving average is $140.35. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $161.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

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 forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,346 shares of company stock valued at $9,472,911. Corporate insiders own 1.10% of the company’s stock.

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.