Applied Capital LLC FL Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Applied Capital LLC FL decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.7% during the first quarter, Holdings Channel reports. The firm owned 3,527 shares of the financial services provider’s stock after selling 213 shares during the quarter. Applied Capital LLC FL’s holdings in Intercontinental Exchange were worth $485,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after purchasing an additional 12,208 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP grew its stake in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after purchasing an additional 6,500 shares in the last quarter. Finally, Perpetual Ltd grew its stake in shares of Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. Citigroup boosted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the company from $143.00 to $167.00 in a research report on Monday. Bank of America reduced their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reduced their price target 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, one has assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $151.29.

Insiders Place Their Bets

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the 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 $161,893,392.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,894 shares of company stock worth $8,620,792. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

ICE traded up $3.89 on Tuesday, hitting $140.82. 3,303,060 shares of the company were exchanged, compared to its average volume of 2,350,370. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day moving average is $134.62 and its 200 day moving average is $133.00. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $140.98. The firm has a market capitalization of $80.77 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

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