Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 25.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,971 shares of the financial services provider’s stock after selling 4,748 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Intercontinental Exchange were worth $1,913,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ICE. International Assets Investment Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $6,334,000. Gilbert & Cook Inc. raised its holdings in Intercontinental Exchange by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 188 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $320,000. Benjamin F. Edwards & Company Inc. increased its position in Intercontinental Exchange by 128.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,628 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 915 shares during the period. Finally, 9258 Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 29.9% during the 4th quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock worth $977,000 after buying an additional 1,752 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ICE shares. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, August 29th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Argus reissued a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $154.93.

Intercontinental Exchange Stock Up 0.8 %

ICE opened at $161.55 on Tuesday. The business’s fifty day simple moving average is $150.14 and its 200 day simple moving average is $140.52. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $161.97. The firm has a market cap of $92.75 billion, a P/E ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last released its quarterly 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 revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now 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 SEC, which is available at the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now directly owns 26,908 shares in the company, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. In the last three months, insiders sold 66,346 shares of company stock valued at $9,472,911. Company 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.