Capital Asset Advisory Services LLC Sells 775 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Capital Asset Advisory Services LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,362 shares of the financial services provider’s stock after selling 775 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Intercontinental Exchange were worth $326,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Altshuler Shaham Ltd bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Finally, Sachetta LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the sale, the chief executive officer now owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Insiders have sold 62,894 shares of company stock valued at $8,620,792 over the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Argus reaffirmed a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Barclays decreased their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.58 during trading hours on Friday, hitting $136.89. 4,040,390 shares of the company were exchanged, compared to its average volume of 2,348,661. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $140.43. The company has a market cap of $78.52 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 2.56 and a beta of 1.06. The firm’s fifty day moving average is $134.52 and its 200 day moving average is $132.72.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.