Tower Bridge Advisors Sells 368 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Tower Bridge Advisors decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,653 shares of the financial services provider’s stock after selling 368 shares during the period. Tower Bridge Advisors’ holdings in Intercontinental Exchange were worth $6,209,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ICE. Wolff Wiese Magana LLC raised its holdings in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Barclays reduced their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Down 0.6 %

ICE opened at $155.55 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99. The firm’s 50 day simple moving average is $160.97 and its two-hundred day simple moving average is $150.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $89.31 billion, a PE ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $1.46 EPS. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now owns 3,958 shares in the company, valued at $629,242.84. The trade was a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 over the last quarter. 1.10% of the stock is currently owned by company 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.