NewEdge Wealth LLC Has $2.76 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

NewEdge Wealth LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 32.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,543 shares of the financial services provider’s stock after selling 8,373 shares during the period. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $2,759,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Steph & Co. lifted its position in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Finally, Dorato Capital Management bought a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 1.9%

Shares of ICE opened at $145.93 on Friday. The stock has a fifty day moving average price of $139.50 and a two-hundred day moving average price of $154.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The company has a market cap of $82.53 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. The Goldman Sachs Group cut their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. UBS Group cut their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Barclays reduced their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 over the last three months. Company insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.