Beaumont Financial Advisors LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Beaumont Financial Advisors LLC bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,540 shares of the financial services provider’s stock, valued at approximately $378,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. State Street Corp boosted its holdings in shares of Intercontinental Exchange by 1.2% during the third 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 during the period. Geode Capital Management LLC lifted its holdings in 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 boosted its stake in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the period. Parnassus Investments LLC grew its holdings in Intercontinental Exchange by 4.0% in the 3rd 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 in the last quarter. Finally, Franklin Resources Inc. increased its position in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of recent research reports. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Keefe, Bruyette & Woods decreased their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Barclays lowered their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,795 shares of company stock worth $2,120,572. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.11 on Thursday. 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 market cap of $88.48 billion, a PE ratio of 36.52, a P/E/G ratio of 2.85 and a beta of 1.10. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The business’s 50-day moving average price is $152.96 and its two-hundred day moving average price is $155.86.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 period in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share 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.