Howe & Rusling Inc. Lowers Position in Intercontinental Exchange Inc. $ICE

Howe & Rusling Inc. decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,164 shares of the financial services provider’s stock after selling 440 shares during the period. Intercontinental Exchange makes up about 1.5% of Howe & Rusling Inc.’s holdings, making the stock its 18th largest holding. Howe & Rusling Inc.’s holdings in Intercontinental Exchange were worth $20,212,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Main Management ETF Advisors LLC grew its holdings in shares of Intercontinental Exchange by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 5,864 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 96 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Intercontinental Exchange during the second quarter valued at approximately $80,860,000. Quilter Plc purchased a new position in Intercontinental Exchange in the 2nd quarter worth approximately $218,000. Artisan Partners Limited Partnership increased its holdings in shares of Intercontinental Exchange by 36.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 57,520 shares of the financial services provider’s stock worth $10,553,000 after buying an additional 15,255 shares during the last quarter. Finally, Empirical Finance LLC raised its position in shares of Intercontinental Exchange by 1.7% during the 2nd quarter. Empirical Finance LLC now owns 8,920 shares of the financial services provider’s stock valued at $1,637,000 after buying an additional 150 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred on 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 transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value 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. In the last quarter, insiders sold 24,098 shares of company stock valued at $4,024,000. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $153.56 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The business’s 50 day simple moving average is $158.91 and its two-hundred day simple moving average is $172.32. The stock has a market capitalization of $87.56 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

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, 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 firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business earned $1.55 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen cut their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. UBS Group cut their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. One research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $194.70.

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.