Fiduciary Alliance LLC Makes New $1.80 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Fiduciary Alliance LLC acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,121 shares of the financial services provider’s stock, valued at approximately $1,798,000.

Several other large investors have also modified their holdings of ICE. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares in the last quarter. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $839,259,000. Capital World Investors raised its holdings in Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. Finally, Parnassus Investments LLC boosted its stake in shares of Intercontinental Exchange by 23.8% in 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 acquiring an additional 1,621,737 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE traded down $0.58 during trading on Friday, hitting $136.89. The company’s stock had a trading volume of 4,067,356 shares, compared to its average volume of 2,343,006. The firm’s 50 day moving average price is $134.52 and its two-hundred day moving average price is $132.82. 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, Inc. has a 12 month low of $104.49 and a 12 month high of $140.43. The stock has a market capitalization of $78.52 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

ICE has been the topic of several research analyst reports. Bank of America reduced their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Argus reissued a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Citigroup lifted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Insider Activity at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares in the company, valued at $161,893,392.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were purchased at an average cost of $0.87 per share, with a total value of $305,265.60. Following the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 3rd. The stock was 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 of the company’s stock, valued at $161,893,392.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,894 shares of company stock valued at $8,620,792. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.