Aprio Wealth Management LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Aprio Wealth Management LLC acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,587 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp grew its holdings in Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after purchasing an additional 169,922 shares during the last quarter. FMR LLC grew its stake in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC increased its holdings in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Barclays dropped their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $175.20.

Intercontinental Exchange Stock Up 0.7 %

Shares of NYSE:ICE opened at $143.84 on Tuesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two 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 firm’s 50-day simple moving average is $153.88 and its 200-day simple moving average is $155.47. The company has a market cap of $82.59 billion, a price-to-earnings ratio of 34.09, a PEG ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.