Manchester Capital Management LLC Buys 103 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Manchester Capital Management LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,983 shares of the financial services provider’s stock after purchasing an additional 103 shares during the quarter. Manchester Capital Management LLC’s holdings in Intercontinental Exchange were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. Pettyjohn Wood & White Inc. lifted its stake in shares of Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares during the last quarter. Busey Bank raised its position in Intercontinental Exchange by 3.4% in the first quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 80 shares during the last quarter. Western Pacific Wealth Management LP boosted its stake in shares of Intercontinental Exchange by 4.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 80 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Intercontinental Exchange by 16.4% during the first quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 82 shares during the last quarter. Finally, PDS Planning Inc increased its stake in shares of Intercontinental Exchange by 2.8% in the first quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock valued at $425,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Bank of America cut their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Barclays boosted their price objective on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods lowered their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.07.

Intercontinental Exchange Trading Up 1.0 %

Shares of Intercontinental Exchange stock traded up $1.48 on Friday, reaching $148.63. 994,989 shares of the company’s stock were exchanged, compared to its average volume of 2,352,278. The firm’s 50-day moving average is $136.54 and its two-hundred day moving average is $133.90. The company has a market capitalization of $85.25 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $149.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. Intercontinental Exchange’s revenue was up 20.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at $565,442.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,290 shares of company stock valued at $8,937,674. 1.10% of the stock is owned by company insiders.

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.