Exencial Wealth Advisors LLC reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,816 shares of the financial services provider’s stock after selling 6,092 shares during the period. Intercontinental Exchange makes up 0.9% of Exencial Wealth Advisors LLC’s portfolio, making the stock its 27th biggest holding. Exencial Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $24,551,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $269,000. D.A. Davidson & CO. raised its holdings in shares of Intercontinental Exchange by 0.3% during the 2nd quarter. D.A. Davidson & CO. now owns 29,310 shares of the financial services provider’s stock valued at $5,378,000 after buying an additional 82 shares in the last quarter. Gables Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 100.0% during the 2nd quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock valued at $46,000 after buying an additional 125 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Intercontinental Exchange by 3.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 121,179 shares of the financial services provider’s stock valued at $22,233,000 after buying an additional 3,505 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. raised its holdings in shares of Intercontinental Exchange by 7.1% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 91,000 shares of the financial services provider’s stock valued at $16,696,000 after buying an additional 6,000 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,956 shares of company stock valued at $43,789,542. Company insiders own 1.00% of the company’s stock.
Intercontinental Exchange Price Performance
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $198.60.
View Our Latest Research Report on Intercontinental Exchange
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.
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