Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Trimmed by Cornerstone Advisors LLC

Cornerstone Advisors LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,600 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in Intercontinental Exchange were worth $3,778,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI grew its stake in shares of Intercontinental Exchange by 343.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,509 shares of the financial services provider’s stock worth $1,028,000 after purchasing an additional 5,814 shares during the last quarter. One Capital Management LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $320,000. Dimensional Fund Advisors LP grew its stake in shares of Intercontinental Exchange by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,858,631 shares of the financial services provider’s stock worth $254,447,000 after purchasing an additional 144,018 shares during the last quarter. Rathbones Group PLC grew its stake in shares of Intercontinental Exchange by 10.5% in the 2nd quarter. Rathbones Group PLC now owns 2,342 shares of the financial services provider’s stock worth $321,000 after purchasing an additional 222 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $3,404,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several analyst reports. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Barclays lifted their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $156.36.

Intercontinental Exchange Trading Up 0.6 %

NYSE:ICE opened at $161.91 on Tuesday. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $163.71. The company’s 50 day moving average is $154.62 and its 200-day moving average is $142.18. The firm has a market cap of $92.87 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 2.81 and a beta of 1.08. 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 (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange 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 value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold 67,096 shares of company stock valued at $9,593,983 in the last 90 days. 1.10% of the stock is currently 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.