Koss Olinger Consulting LLC acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,214 shares of the financial services provider’s stock, valued at approximately $1,946,000.
Several other institutional investors have also recently made changes to their positions in the business. Annapolis Financial Services LLC grew its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth about $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange during the second quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Argus reiterated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Citigroup raised their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.93.
Intercontinental Exchange Stock Performance
Shares of NYSE:ICE opened at $160.49 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The firm has a market capitalization of $92.05 billion, a PE ratio of 36.81, a P/E/G ratio of 2.84 and a beta of 1.08. The business’s 50 day moving average price is $152.10 and its 200-day moving average price is $141.19.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the sale, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the transaction, the insider now directly owns 14,636 shares in the company, valued at approximately $2,174,909.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,346 shares of company stock worth $9,472,911. 1.10% 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.
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