3,380 Shares of Intercontinental Exchange Inc. $ICE Acquired by Highland Financial Advisors LLC

Highland Financial Advisors LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,380 shares of the financial services provider’s stock, valued at approximately $514,000.

A number of other large investors have also recently made changes to their positions in ICE. Value Partners Investments Inc. raised its stake in Intercontinental Exchange by 2.6% during the 3rd quarter. Value Partners Investments Inc. now owns 14,653 shares of the financial services provider’s stock worth $2,235,000 after acquiring an additional 374 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of Intercontinental Exchange by 0.3% in the third quarter. Brown Lisle Cummings Inc. now owns 68,736 shares of the financial services provider’s stock worth $10,450,000 after purchasing an additional 200 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Intercontinental Exchange by 1.9% in the third quarter. Frank Rimerman Advisors LLC now owns 7,370 shares of the financial services provider’s stock worth $1,120,000 after purchasing an additional 135 shares during the period. Western Pacific Wealth Management LP boosted its position in shares of Intercontinental Exchange by 42.9% in the third quarter. Western Pacific Wealth Management LP now owns 4,265 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 1,280 shares during the period. Finally, Forbes J M & Co. LLP increased its stake in shares of Intercontinental Exchange by 0.6% in the third quarter. Forbes J M & Co. LLP now owns 81,910 shares of the financial services provider’s stock worth $12,453,000 after purchasing an additional 460 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research report on Friday, October 9th. Barclays restated an “overweight” rating and set a $189.00 target price (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Argus dropped their target price on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Finally, TD Cowen increased their price target on Intercontinental Exchange from $166.00 to $167.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.31.

Insider Activity

In other news, Director Martha Tirinnanzi sold 1,340 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the transaction, the director owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 41,179 shares of company stock valued at $6,473,715. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE traded down $3.04 during trading hours on Monday, reaching $158.51. The company’s stock had a trading volume of 3,026,678 shares, compared to its average volume of 3,784,213. The firm’s 50-day moving average price is $156.65 and its 200-day moving average price is $150.83. 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 Inc. has a 1 year low of $121.79 and a 1 year high of $176.05. The company has a market capitalization of $88.99 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.48 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.19 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.