Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 18.1% during the first quarter, Holdings Channel.com reports. The fund owned 1,618,213 shares of the financial services provider’s stock after selling 356,732 shares during the quarter. Intercontinental Exchange comprises 2.0% of Vaughan Nelson Investment Management L.P.’s investment portfolio, making the stock its 12th biggest position. Vaughan Nelson Investment Management L.P.’s holdings in Intercontinental Exchange were worth $222,391,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Pettyjohn Wood & White Inc. raised its holdings in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares during the period. Western Pacific Wealth Management LP raised its holdings in Intercontinental Exchange by 4.9% in the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares during the period. Kampmann Melissa S. raised its holdings in Intercontinental Exchange by 0.3% in the 4th quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock valued at $3,362,000 after buying an additional 85 shares during the period. Assetmark Inc. raised its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 86 shares during the period. Finally, Marcum Wealth LLC raised its holdings in Intercontinental Exchange by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock valued at $385,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ICE shares. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods cut their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $167.00 in a research report on Monday. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $151.29.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $0.38 during trading hours on Tuesday, hitting $137.31. The stock had a trading volume of 108,964 shares, compared to its average volume of 2,331,181. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $78.76 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.55 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.43. The stock’s fifty day moving average is $134.52 and its two-hundred day moving average is $132.90.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s revenue for the quarter was up 20.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the firm’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 62,894 shares of company stock valued at $8,620,792 over the last quarter. Insiders own 1.10% of the company’s stock.

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.