Intercontinental Exchange Inc. $ICE Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 382,126 shares of the financial services provider’s stock after selling 4,466 shares during the period. Bridges Investment Management Inc. owned about 0.07% of Intercontinental Exchange worth $70,109,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its position in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. Activest Wealth Management raised its position in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Intercontinental Exchange in the 1st quarter valued at about $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In related news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock worth $43,789,542 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ICE shares. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, Morgan Stanley cut their target price on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.60.

Intercontinental Exchange Trading Down 0.6%

NYSE:ICE opened at $157.33 on Thursday. The stock’s 50 day moving average price is $172.21 and its 200 day moving average price is $173.77. The company has a market capitalization of $90.06 billion, a PE ratio of 30.20, a P/E/G ratio of 2.20 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Company 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.