Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 4,030 shares of the financial services provider’s stock after selling 75 shares during the period. Chesapeake Wealth Management’s holdings in Intercontinental Exchange were worth $601,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ICE. Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $25,000. Wolff Wiese Magana LLC grew its stake 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 purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange in the third quarter worth about $26,000. Financial Management Professionals Inc. grew its stake in Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange in the third quarter worth about $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

ICE opened at $149.07 on Tuesday. The business’s 50 day moving average is $153.20 and its 200-day moving average is $155.73. The stock has a market cap of $85.59 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.84 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99.

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 the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ICE shares. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Keefe, Bruyette & Woods decreased their price target on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.