IFG Advisory LLC Purchases 146 Shares of Intercontinental Exchange Inc. $ICE

IFG Advisory LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 18,396 shares of the financial services provider’s stock after buying an additional 146 shares during the quarter. IFG Advisory LLC’s holdings in Intercontinental Exchange were worth $3,375,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth $28,000. Activest Wealth Management grew its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the 1st quarter worth $30,000. Hilltop National Bank bought a new position in Intercontinental Exchange in the 2nd quarter worth about $31,000. Finally, Accredited Wealth Management LLC bought a new position in Intercontinental Exchange in the 1st quarter worth about $33,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several analyst reports. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday, October 13th. Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday. UBS Group cut their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Finally, Morgan Stanley cut their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $191.82.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $146.10 on Friday. The business’s 50-day moving average price is $165.55 and its two-hundred day moving average price is $173.40. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a market cap of $83.63 billion, a P/E ratio of 28.04, a PEG ratio of 2.11 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 (NYSE:ICE) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $1.55 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last quarter. 1.00% 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.