Legacy Wealth Asset Management LLC Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Legacy Wealth Asset Management LLC lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,255 shares of the financial services provider’s stock after selling 1,533 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Intercontinental Exchange were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its stake in Intercontinental Exchange by 27.3% in the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after buying an additional 12,208 shares during the last quarter. Wellington Management Group LLP raised its stake 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 worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares during the period. Point72 Europe London LLP boosted its position in Intercontinental Exchange by 10.9% in the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares during the last quarter. Finally, Perpetual Ltd increased its holdings in Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after buying an additional 6,272 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the acquisition, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 4,506 shares of company stock worth $609,374. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on ICE shares. JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Citigroup increased their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Barclays lowered their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $151.29.

Intercontinental Exchange Trading Up 0.2 %

Shares of Intercontinental Exchange stock traded up $0.34 during mid-day trading on Thursday, hitting $141.16. The stock had a trading volume of 2,070,106 shares, compared to its average volume of 2,469,574. The firm has a 50-day moving average of $134.96 and a two-hundred day moving average of $133.18. The firm has a market cap of $80.97 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 2.62 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, Inc. has a 12-month low of $104.49 and a 12-month high of $141.59.

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

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.