SVB Wealth LLC Sells 21,003 Shares of Intercontinental Exchange Inc. $ICE

SVB Wealth LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 30.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 47,003 shares of the financial services provider’s stock after selling 21,003 shares during the quarter. SVB Wealth LLC’s holdings in Intercontinental Exchange were worth $8,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. Princeton Global Asset Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $28,000. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $29,000. Activest Wealth Management lifted its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares during the period. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at $31,000. Finally, Knuff & Co LLC boosted its stake in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $157.63 on Monday. The firm’s 50-day moving average is $155.39 and its 200 day moving average is $170.68. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month 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 company has a market capitalization of $89.88 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.40 and a beta of 1.04.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $194.70.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of Intercontinental Exchange stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $151.00, for a total value of $314,231.00. Following the completion of the sale, the general counsel directly owned 44,212 shares in the company, valued at $6,676,012. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 168,044 shares of company stock worth $25,832,095 over the last three months. Corporate insiders own 1.00% of the company’s stock.

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.