Glenview Trust Co Buys Shares of 6,909 Intercontinental Exchange Inc. $ICE

Glenview Trust Co purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,909 shares of the financial services provider’s stock, valued at approximately $851,000.

A number of other hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $26,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $30,000. Finally, Gables Capital Management Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel owned 43,065 shares of the company’s stock, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’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 sale, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,141 shares of company stock worth $3,554,192 in the last 90 days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $162.46 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $144.90 and its 200 day simple moving average is $151.50. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $177.76. The company has a market cap of $91.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS 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 last year, the company posted $1.81 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ICE. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Morgan Stanley cut their price target on 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 raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. One equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.33.

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.