Crux Wealth Advisors Boosts Stake in Intercontinental Exchange Inc. $ICE

Crux Wealth Advisors grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 126.7% during the second quarter, HoldingsChannel reports. The fund owned 11,783 shares of the financial services provider’s stock after acquiring an additional 6,585 shares during the quarter. Crux Wealth Advisors’ holdings in Intercontinental Exchange were worth $1,451,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $25,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Swiss RE Ltd. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $30,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $37,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ICE. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. TD Cowen restated a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group decreased their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,454 shares of company stock valued at $2,469,349 over the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 2.7%

NYSE ICE opened at $155.34 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $183.13. The company has a fifty day simple moving average of $140.32 and a two-hundred day simple moving average of $152.25. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $87.21 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the company earned $1.81 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current year.

Intercontinental Exchange Company Profile

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.