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

Independent Advisor Alliance trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. New Millennium Group LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC raised its stake in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange in the third quarter valued at $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $160.49 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a market cap of $92.15 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The stock has a 50 day simple moving average of $160.55 and a 200-day simple moving average of $151.52.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,868 shares of company stock worth $622,079. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on ICE shares. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

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.