Birch Capital Management LLC Sells 1,277 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Birch Capital Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,782 shares of the financial services provider’s stock after selling 1,277 shares during the quarter. Intercontinental Exchange accounts for approximately 2.3% of Birch Capital Management LLC’s holdings, making the stock its 16th biggest holding. Birch Capital Management LLC’s holdings in Intercontinental Exchange were worth $4,587,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its stake in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at $26,000. Financial Management Professionals Inc. boosted its holdings in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,533 shares of company stock worth $1,196,279. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ICE shares. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Intercontinental Exchange Trading Up 0.3 %

Shares of NYSE ICE traded up $0.40 during midday trading on Tuesday, reaching $146.98. 1,354,427 shares of the stock were exchanged, compared to its average volume of 2,045,036. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The company has a market capitalization of $84.39 billion, a price-to-earnings ratio of 34.83, a P/E/G ratio of 2.57 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of $155.33 and a two-hundred day simple moving average of $155.21.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Company 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.