Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Avestar Capital LLC

Avestar Capital LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,851 shares of the financial services provider’s stock after buying an additional 163 shares during the quarter. Avestar Capital LLC’s holdings in Intercontinental Exchange were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the last quarter. Legal & General Group Plc grew its holdings in Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Intercontinental Exchange by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock valued at $504,746,000 after purchasing an additional 21,615 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after buying an additional 284,664 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ICE. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,868 shares of company stock valued at $622,079 over the last ninety days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $160.49 on Wednesday. The firm has a market capitalization of $92.15 billion, a price-to-earnings ratio of 38.03, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. The stock’s fifty day moving average is $160.55 and its 200-day moving average is $151.52. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.