Kingswood Wealth Advisors LLC Trims Stake in Intercontinental Exchange Inc. $ICE

Kingswood Wealth Advisors LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 8.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,438 shares of the financial services provider’s stock after selling 136 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $264,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares during the period. Activest Wealth Management lifted its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the period. McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth $30,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.1%

Shares of NYSE ICE opened at $157.51 on Friday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a market cap of $90.16 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.92 and a beta of 1.08. 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 fifty day moving average price of $174.01 and a 200 day moving average price of $174.12.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICE shares. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Morgan Stanley dropped their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Barclays restated an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday. UBS Group upped their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $197.10.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the sale, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Company 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.