Highland Financial Advisors LLC Acquires New Stake in Intercontinental Exchange Inc. $ICE

Highland Financial Advisors LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 3,380 shares of the financial services provider’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Value Partners Investments Inc. lifted its stake in shares of Intercontinental Exchange by 2.6% in the 3rd quarter. Value Partners Investments Inc. now owns 14,653 shares of the financial services provider’s stock valued at $2,235,000 after purchasing an additional 374 shares during the period. Brown Lisle Cummings Inc. boosted its position in shares of Intercontinental Exchange by 0.3% during the third quarter. Brown Lisle Cummings Inc. now owns 68,736 shares of the financial services provider’s stock valued at $10,450,000 after purchasing an additional 200 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in Intercontinental Exchange by 1.9% in the third quarter. Frank Rimerman Advisors LLC now owns 7,370 shares of the financial services provider’s stock worth $1,120,000 after purchasing an additional 135 shares during the period. Western Pacific Wealth Management LP grew its stake in Intercontinental Exchange by 42.9% in the third quarter. Western Pacific Wealth Management LP now owns 4,265 shares of the financial services provider’s stock worth $648,000 after purchasing an additional 1,280 shares during the period. Finally, Forbes J M & Co. LLP grew its stake in Intercontinental Exchange by 0.6% in the third quarter. Forbes J M & Co. LLP now owns 81,910 shares of the financial services provider’s stock worth $12,453,000 after purchasing an additional 460 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ICE. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Intercontinental Exchange in a report on Wednesday, October 7th. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. Finally, Jefferies Financial Group decreased their price target on shares of Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.31.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded down $3.04 during midday trading on Monday, reaching $158.51. 3,026,678 shares of the company traded hands, compared to its average volume of 3,784,213. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.05. The firm has a market capitalization of $88.99 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.48 and a beta of 0.94. The business has a 50 day moving average of $156.65 and a two-hundred day moving average of $150.83.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.19 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha Tirinnanzi sold 1,340 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the transaction, the director directly owned 3,747 shares in the company, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Monday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president owned 15,863 shares in the company, valued at $2,538,080. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,179 shares of company stock valued at $6,473,715 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.