Keebeck Wealth Management Takes Position in Intercontinental Exchange Inc. $ICE

Keebeck Wealth Management purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 8,664 shares of the financial services provider’s stock, valued at approximately $1,067,000.

Several other institutional investors have also added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $30,000. Finally, Gables Capital Management Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ICE shares. TD Cowen reiterated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. 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 report on Friday, July 10th. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Up 1.7%

ICE stock opened at $161.29 on Friday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. The business has a 50-day simple moving average of $142.34 and a 200 day simple moving average of $151.69. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.56 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 (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 firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total transaction of $389,343.30. Following the transaction, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. This represents a 9.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,200 shares of company stock worth $3,035,385 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

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.