SPC Financial Inc. Reduces Stake in Intercontinental Exchange Inc. $ICE

SPC Financial Inc. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,419 shares of the financial services provider’s stock after selling 478 shares during the period. SPC Financial Inc.’s holdings in Intercontinental Exchange were worth $4,480,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Tritonpoint Wealth LLC increased its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 58 shares in the last quarter. RB Capital Management LLC grew its holdings in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares during the last quarter. Chemistry Wealth Management LLC grew its holdings in Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares during the last quarter. Institute for Wealth Management LLC. grew its holdings in Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after buying an additional 60 shares during the last quarter. Finally, Fielder Capital Group LLC grew its holdings in Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider’s stock valued at $484,000 after buying an additional 61 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE stock opened at $157.51 on Friday. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock’s fifty day simple moving average is $174.01 and its 200-day simple moving average is $174.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $90.16 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on ICE shares. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Finally, Barclays reiterated an “overweight” rating and set a $201.00 target price (down previously from $212.00) 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 given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.10.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. This trade represents a 13.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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.