Intercontinental Exchange Inc. $ICE Stock Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 19.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 102,227 shares of the financial services provider’s stock after selling 25,136 shares during the quarter. Intercontinental Exchange accounts for 1.3% of Crescent Grove Advisors LLC’s holdings, making the stock its 17th biggest position. Crescent Grove Advisors LLC’s holdings in Intercontinental Exchange were worth $15,542,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ICE. Magnus Financial Group LLC acquired a new position in Intercontinental Exchange during the third quarter worth $208,000. Strengthening Families & Communities LLC boosted its holdings in shares of Intercontinental Exchange by 2.8% in the 3rd quarter. Strengthening Families & Communities LLC now owns 5,566 shares of the financial services provider’s stock valued at $846,000 after buying an additional 153 shares during the last quarter. Sowell Financial Services LLC grew its stake in shares of Intercontinental Exchange by 27.0% in the third quarter. Sowell Financial Services LLC now owns 3,265 shares of the financial services provider’s stock valued at $496,000 after buying an additional 694 shares in the last quarter. Atticus Wealth Management LLC bought a new stake in Intercontinental Exchange during the third quarter worth $228,000. Finally, Quadrant Capital Group LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at $2,036,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ICE shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Jefferies Financial Group decreased their target price on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. Bank of America boosted their price target on Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, Morgan Stanley lifted their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.31.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Edmonds sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,179 shares of company stock valued at $6,473,715 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.6%

Shares of ICE stock opened at $157.63 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.05. The company has a market cap of $88.49 billion, a PE ratio of 22.26, a P/E/G ratio of 1.46 and a beta of 0.94. The stock’s fifty day moving average price is $156.93 and its two-hundred day moving average price is $150.80.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post 8.20 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.