Sequoia Financial Advisors LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 21.5% during the second quarter, HoldingsChannel.com reports. The firm owned 19,109 shares of the financial services provider’s stock after selling 5,219 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intercontinental Exchange were worth $2,352,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in ICE. Brighton Jones LLC raised its position in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC increased its position in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its holdings in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares during the period. NewEdge Advisors LLC increased its stake in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Intercontinental Exchange
In other news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the transaction, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This represents a 9.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the sale, the president directly owned 164,264 shares in the company, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,579 shares of company stock valued at $6,217,715 in the last three months. 0.84% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Intercontinental Exchange Stock Up 0.1%
ICE stock opened at $157.49 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $88.41 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.53 and a beta of 0.93. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.59. The business has a 50-day moving average of $151.14 and a 200-day moving average of $151.74.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.
Intercontinental Exchange Company Profile
Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.
ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.
Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.
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