Goodman Advisory Group LLC Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Goodman Advisory Group LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 10,915 shares of the financial services provider’s stock after selling 1,093 shares during the period. Goodman Advisory Group LLC’s holdings in Intercontinental Exchange were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 15.7% during the second quarter. Sequoia Financial Advisors LLC now owns 8,915 shares of the financial services provider’s stock worth $1,220,000 after purchasing an additional 1,207 shares during the period. Diversified Trust Co purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $214,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Intercontinental Exchange by 6.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,287 shares of the financial services provider’s stock worth $3,188,000 after acquiring an additional 1,310 shares during the period. TRUE Private Wealth Advisors raised its holdings in Intercontinental Exchange by 6.6% during the second quarter. TRUE Private Wealth Advisors now owns 3,800 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 236 shares in the last quarter. Finally, ORG Partners LLC boosted its holdings in Intercontinental Exchange by 1,652.9% in the 2nd quarter. ORG Partners LLC now owns 596 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Barclays boosted their target price on Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, TD Cowen started coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.07.

Insider Activity

In related news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange 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 transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,946 shares of company stock valued at $1,433,486 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $156.07 on Tuesday. The stock has a market capitalization of $89.61 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. The stock’s fifty day simple moving average is $160.29 and its 200-day simple moving average is $152.89. Intercontinental Exchange, Inc. has a 52-week low of $113.87 and a 52-week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

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