Prime Capital Investment Advisors LLC Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Prime Capital Investment Advisors LLC lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,802 shares of the financial services provider’s stock after selling 141 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ICE. Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $124,508,000. Janus Henderson Group PLC raised its position in Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after purchasing an additional 687,817 shares during the period. James Hambro & Partners acquired a new position in Intercontinental Exchange during the second quarter worth $93,340,000. Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 426.3% during the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares during the period. Finally, Samlyn Capital LLC grew its stake in shares of Intercontinental Exchange by 142.2% in the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after buying an additional 490,671 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Barclays cut their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $155.55 on Friday. The company has a market capitalization of $89.31 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $160.97 and a 200 day moving average price of $149.92.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

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.