Blackston Financial Advisory Group LLC Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Blackston Financial Advisory Group LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 40.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,968 shares of the financial services provider’s stock after buying an additional 849 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Intercontinental Exchange were worth $477,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Busey Bank boosted its holdings in shares of Intercontinental Exchange by 16.0% in the third quarter. Busey Bank now owns 2,852 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 393 shares during the period. Silver Oak Securities Incorporated purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $829,000. Moody Lynn & Lieberson LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth $5,835,000. E. Ohman J or Asset Management AB increased its stake in shares of Intercontinental Exchange by 3.4% during the third quarter. E. Ohman J or Asset Management AB now owns 287,609 shares of the financial services provider’s stock valued at $46,202,000 after buying an additional 9,416 shares during the period. Finally, West Michigan Advisors LLC purchased a new position in shares of Intercontinental Exchange during the third quarter valued at $215,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Up 0.3 %

Shares of NYSE:ICE opened at $167.40 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $167.54. The stock has a market cap of $96.02 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 2.62 and a beta of 1.08. The business has a 50-day moving average price of $161.21 and a 200-day moving average price of $146.86.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ICE shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday. Finally, The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.93.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

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.