Spectrum Wealth Counsel LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Spectrum Wealth Counsel LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,414 shares of the financial services provider’s stock after selling 69 shares during the quarter. Spectrum Wealth Counsel LLC’s holdings in Intercontinental Exchange were worth $194,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Seven Mile Advisory grew its holdings in Intercontinental Exchange by 9.8% during the 2nd quarter. Seven Mile Advisory now owns 1,909 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 170 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Intercontinental Exchange by 5.3% in the second quarter. Envestnet Asset Management Inc. now owns 1,062,336 shares of the financial services provider’s stock worth $145,423,000 after purchasing an additional 53,506 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Intercontinental Exchange by 27.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 118,365 shares of the financial services provider’s stock valued at $16,203,000 after buying an additional 25,426 shares during the last quarter. Leelyn Smith LLC raised its stake in Intercontinental Exchange by 1.4% during the second quarter. Leelyn Smith LLC now owns 30,617 shares of the financial services provider’s stock valued at $4,191,000 after buying an additional 409 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $238,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Citigroup raised their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Argus restated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. 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 assigned 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.

Intercontinental Exchange Stock Up 0.1 %

Shares of Intercontinental Exchange stock opened at $161.36 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The business’s fifty day moving average price is $154.20 and its two-hundred day moving average price is $142.00. The company has a market capitalization of $92.55 billion, a P/E ratio of 37.01, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,096 shares of company stock worth $9,593,983. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.