MainStreet Investment Advisors LLC Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

MainStreet Investment Advisors LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,203 shares of the financial services provider’s stock after selling 2,943 shares during the period. MainStreet Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $4,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its position in Intercontinental Exchange by 5.5% during the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 188 shares during the period. Fisher Asset Management LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $320,000. Benjamin F. Edwards & Company Inc. raised its position in Intercontinental Exchange by 128.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,628 shares of the financial services provider’s stock worth $209,000 after acquiring an additional 915 shares during the period. 9258 Wealth Management LLC grew its position in shares of Intercontinental Exchange by 29.9% during the 4th quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock valued at $977,000 after acquiring an additional 1,752 shares during the period. Finally, Spire Wealth Management increased its stake in shares of Intercontinental Exchange by 60.8% in the 4th quarter. Spire Wealth Management now owns 500 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 189 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Down 1.3 %

Shares of ICE stock opened at $160.49 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $92.05 billion, a price-to-earnings ratio of 36.81, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The stock’s 50-day moving average price is $152.10 and its 200-day moving average price is $141.19.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,346 shares of company stock worth $9,472,911. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Argus reiterated a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Barclays increased their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Citigroup increased their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $154.93.

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.