Oxford Financial Group LTD. LLC Acquires Shares of 4,414 Intercontinental Exchange Inc. $ICE

Oxford Financial Group LTD. LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 4,414 shares of the financial services provider’s stock, valued at approximately $543,000.

A number of other large investors have also modified their holdings of ICE. Portfolio Design Labs LLC acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at about $521,000. Hara Capital LLC acquired a new position in Intercontinental Exchange during the second quarter worth about $500,000. Advisors Capital Management LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at about $273,000. PCM Encore LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at about $427,000. Finally, Trillium Asset Management LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $24,684,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the sale, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 17,709 shares of company stock worth $2,646,042. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ICE has been the topic of several recent research reports. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. The Goldman Sachs Group lowered their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Piper Sandler dropped their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $158.68 on Friday. The stock has a 50-day moving average of $141.92 and a two-hundred day moving average of $151.63. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.65. The company has a market cap of $89.08 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating 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 firm 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 business posted $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Intercontinental Exchange 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.