Appleton Partners Inc. MA Sells 6,329 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Appleton Partners Inc. MA lowered its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 114,358 shares of the financial services provider’s stock after selling 6,329 shares during the period. Intercontinental Exchange comprises about 1.2% of Appleton Partners Inc. MA’s investment portfolio, making the stock its 18th biggest position. Appleton Partners Inc. MA’s holdings in Intercontinental Exchange were worth $15,716,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after purchasing an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Capital World Investors raised its stake in shares of Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after acquiring an additional 2,530,119 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares during the period. Finally, Northern Trust Corp grew its position in shares of Intercontinental Exchange by 3.9% in the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after buying an additional 282,963 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Judith A. Sprieser sold 2,238 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total transaction of $307,411.68. Following the completion of the transaction, the director now owns 29,347 shares in the company, valued at $4,031,103.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,234 shares of company stock worth $8,668,823. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded down $0.29 during trading on Tuesday, reaching $135.91. 298,314 shares of the company traded hands, compared to its average volume of 2,290,811. The firm has a 50 day simple moving average of $133.57 and a 200-day simple moving average of $131.51. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $140.43. The stock has a market capitalization of $77.96 billion, a PE ratio of 31.24, a P/E/G ratio of 2.53 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Bank of America decreased their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Barclays reduced their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.29.

Read Our Latest Stock Report on ICE

About Intercontinental Exchange

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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