NewEdge Advisors LLC increased its position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 41.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,775 shares of the financial services provider’s stock after acquiring an additional 11,624 shares during the period. NewEdge Advisors LLC’s holdings in Intercontinental Exchange were worth $6,256,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Steph & Co. boosted its stake in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $30,000. Institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Stock Performance
Shares of Intercontinental Exchange stock opened at $150.48 on Tuesday. The company has a market capitalization of $84.48 billion, a PE ratio of 21.25, a P/E/G ratio of 1.48 and a beta of 0.92. The company has a 50-day simple moving average of $139.62 and a two-hundred day simple moving average of $152.68. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $187.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ICE. The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. TD Cowen restated a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays reiterated an “overweight” rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.33.
Check Out Our Latest Analysis on Intercontinental Exchange
Insider Activity
In other news, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,725 shares of company stock worth $3,133,148. Company insiders own 0.84% of the company’s stock.
Intercontinental Exchange Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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