Veracity Capital LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Veracity Capital LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,134 shares of the financial services provider’s stock after selling 136 shares during the quarter. Veracity Capital LLC’s holdings in Intercontinental Exchange were worth $292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. Capital World Investors raised its holdings in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after acquiring an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC raised its holdings in Intercontinental Exchange by 23.8% in the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after acquiring an additional 1,621,737 shares in the last quarter. Finally, Norges Bank acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $839,259,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday. Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $154.93.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the transaction, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the transaction, the insider now owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The disclosure for this sale can be found here. Insiders sold a total of 64,992 shares of company stock valued at $9,197,801 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

ICE stock traded up $0.36 during trading on Wednesday, hitting $158.11. The stock had a trading volume of 1,938,667 shares, compared to its average volume of 2,467,087. The company’s 50 day moving average price is $145.90 and its two-hundred day moving average price is $138.78. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $158.46. The stock has a market cap of $90.69 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.43 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Intercontinental Exchange 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.