HCR Wealth Advisors Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

HCR Wealth Advisors decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,304 shares of the financial services provider’s stock after selling 153 shares during the quarter. HCR Wealth Advisors’ holdings in Intercontinental Exchange were worth $3,053,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its holdings in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now owns 14,636 shares in the company, valued at $2,174,909.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Insiders have sold 66,346 shares of company stock worth $9,472,911 over the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. 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. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $154.93.

Intercontinental Exchange Trading Down 1.3 %

Shares of ICE opened at $160.49 on Monday. The company’s fifty day moving average is $152.10 and its 200 day moving average is $141.22. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The stock has a market capitalization of $92.14 billion, a PE ratio of 36.81, a P/E/G ratio of 2.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 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 earnings per share 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 business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business posted $1.43 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

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.