MBM Wealth Consultants LLC Trims Position in Intercontinental Exchange Inc. $ICE

MBM Wealth Consultants LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,387 shares of the financial services provider’s stock after selling 430 shares during the period. MBM Wealth Consultants LLC’s holdings in Intercontinental Exchange were worth $1,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Intercontinental Exchange during the second quarter valued at $1,542,780,000. Price T Rowe Associates Inc. MD raised its stake in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after buying an additional 5,345,388 shares during the last quarter. Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $575,383,000. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. Finally, C WorldWide Group Holding A S boosted its stake in shares of Intercontinental Exchange by 29,199.5% in the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after buying an additional 1,646,562 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $157.51 on Monday. The stock has a market capitalization of $89.81 billion, a P/E ratio of 30.23, a PEG ratio of 2.11 and a beta of 1.06. The business has a 50 day simple moving average of $156.50 and a two-hundred day simple moving average of $171.33. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 EPS. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ICE. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. UBS Group decreased their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, TD Cowen cut their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $194.70.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction dated Thursday, September 4th. The shares were 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 in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 170,944 shares of company stock valued at $26,338,174. Company insiders own 1.00% 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.