NewEdge Wealth LLC Has $2.76 Million Stake in Intercontinental Exchange Inc. $ICE

NewEdge Wealth LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,543 shares of the financial services provider’s stock after selling 8,373 shares during the period. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $2,759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. PNC Financial Services Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after buying an additional 10,742 shares during the period. USS Investment Management Ltd raised its holdings in Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares during the period. Walter Public Investments Inc. raised its holdings in Intercontinental Exchange by 13.8% in the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after acquiring an additional 15,129 shares during the period. OFI Invest Asset Management lifted its position in Intercontinental Exchange by 51,986.3% during the 4th quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock worth $64,872,000 after acquiring an additional 399,775 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. UBS Group lowered their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group lowered their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.58.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $145.93 on Friday. The firm’s 50-day moving average is $139.50 and its 200-day moving average is $154.08. The company has a market cap of $82.53 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.