Keebeck Wealth Management Sells 5,139 Shares of Intercontinental Exchange Inc. $ICE

Keebeck Wealth Management lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 18.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,862 shares of the financial services provider’s stock after selling 5,139 shares during the quarter. Keebeck Wealth Management’s holdings in Intercontinental Exchange were worth $3,596,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Steph & Co. boosted its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Dorato Capital Management acquired a new position in Intercontinental Exchange during the fourth quarter worth $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.5%

Shares of ICE opened at $143.19 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $80.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. The stock has a fifty day moving average price of $139.67 and a two-hundred day moving average price of $154.14. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock worth $2,046,324 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. UBS Group cut their price objective on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Barclays dropped their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.58.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.