Intercontinental Exchange, Inc. (NYSE:ICE) Position Increased by Manchester Capital Management LLC

Manchester Capital Management LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,983 shares of the financial services provider’s stock after buying an additional 103 shares during the quarter. Manchester Capital Management LLC’s holdings in Intercontinental Exchange were worth $273,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Annapolis Financial Services LLC increased its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the period. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $28,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 1.0 %

ICE stock traded up $1.48 during trading hours on Friday, hitting $148.63. The company’s stock had a trading volume of 994,989 shares, compared to its average volume of 2,352,278. 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 $149.01. The stock has a 50 day moving average price of $136.54 and a two-hundred day moving average price of $133.90. The company has a market capitalization of $85.25 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ICE. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup increased their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods reduced their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $152.07.

Insiders Place Their Bets

In related news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders sold 63,290 shares of company stock valued at $8,937,674 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.