Shepherd Financial Partners LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Shepherd Financial Partners LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,795 shares of the financial services provider’s stock, valued at approximately $836,000.

Several other institutional investors have also recently made changes to their positions in ICE. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the period. J. Stern & Co. LLP grew its position in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after buying an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new position in Intercontinental Exchange in the second quarter valued at $6,245,085,000. State Street Corp increased its holdings in Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after buying an additional 837,208 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after acquiring an additional 158,450 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,376 shares of company stock worth $2,746,946 in the last quarter. 0.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. UBS Group reaffirmed a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Stock Performance

ICE opened at $157.04 on Thursday. The firm’s fifty day simple moving average is $141.53 and its two-hundred day simple moving average is $151.73. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.72. The company has a market cap of $88.16 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.53 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the company earned $1.81 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

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.