Independent Advisor Alliance Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Independent Advisor Alliance trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,156 shares of the financial services provider’s stock after selling 943 shares during the period. Independent Advisor Alliance’s holdings in Intercontinental Exchange were worth $1,149,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ICE. Silvercrest Asset Management Group LLC increased its stake in Intercontinental Exchange by 7.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 16,243 shares of the financial services provider’s stock worth $2,232,000 after buying an additional 1,180 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Intercontinental Exchange by 61.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,082 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 3,062 shares during the last quarter. Tidal Investments LLC lifted its holdings in Intercontinental Exchange by 13.5% in the 1st quarter. Tidal Investments LLC now owns 30,820 shares of the financial services provider’s stock valued at $4,235,000 after purchasing an additional 3,655 shares in the last quarter. Plato Investment Management Ltd boosted its stake in Intercontinental Exchange by 2,134.9% during the 1st quarter. Plato Investment Management Ltd now owns 15,175 shares of the financial services provider’s stock worth $2,086,000 after purchasing an additional 14,496 shares during the last quarter. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of Intercontinental Exchange during the first quarter worth $233,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the company’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 sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction dated 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 transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,868 shares of company stock valued at $622,079. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Up 0.5 %

Shares of NYSE ICE opened at $160.49 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $160.55 and its two-hundred day moving average is $151.52. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99. The firm has a market cap of $92.15 billion, a price-to-earnings ratio of 38.03, a PEG ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. Research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Barclays decreased their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange 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.