Copley Financial Group Inc. Sells 337 Shares of Intercontinental Exchange Inc. $ICE

Copley Financial Group Inc. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,556 shares of the financial services provider’s stock after selling 337 shares during the quarter. Copley Financial Group Inc.’s holdings in Intercontinental Exchange were worth $469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in Intercontinental Exchange by 1.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after purchasing an additional 13,497 shares in the last quarter. Trillium Asset Management LLC lifted its position in Intercontinental Exchange by 12.0% during the second quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Intercontinental Exchange by 6.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after buying an additional 55,057 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in Intercontinental Exchange by 19.7% during the second quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock worth $53,961,000 after buying an additional 48,344 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 170,944 shares of company stock valued at $26,338,174 over the last quarter. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ICE. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $156.46 on Thursday. The stock’s 50-day moving average is $157.04 and its 200-day moving average is $171.56. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $89.21 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company earned $1.55 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current 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.