IFG Advisory LLC Has $3.38 Million Stake in Intercontinental Exchange Inc. $ICE

IFG Advisory LLC lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,396 shares of the financial services provider’s stock after purchasing an additional 146 shares during the quarter. IFG Advisory LLC’s holdings in Intercontinental Exchange were worth $3,375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Activest Wealth Management lifted its position in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange in the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the 1st quarter valued at about $30,000. Finally, Accredited Wealth Management LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at about $33,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 1.6%

Shares of Intercontinental Exchange stock opened at $146.10 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a market cap of $83.63 billion, a PE ratio of 28.04, a P/E/G ratio of 2.11 and a beta of 1.08. The stock has a fifty day moving average price of $165.55 and a 200-day moving average price of $173.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the firm posted $1.55 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday. Finally, TD Cowen lowered their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.82.

Insider Activity

In other news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by 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.