10,930 Shares in Intercontinental Exchange Inc. $ICE Purchased by United Bank

United Bank acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 10,930 shares of the financial services provider’s stock, valued at approximately $1,346,000.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. NewEdge Advisors LLC increased its stake in Intercontinental Exchange by 27.9% in the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after acquiring an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,376 shares of company stock valued at $2,746,946. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Barclays restated an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Morgan Stanley cut their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Finally, UBS Group reaffirmed a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. 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. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $157.04 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.72. The company has a 50 day moving average of $141.53 and a 200-day moving average of $151.73. 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 firm has a market cap of $88.16 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.53 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping 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 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

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.