Diversify Advisory Services LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Diversify Advisory Services LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,580 shares of the financial services provider’s stock, valued at approximately $532,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. lifted its position in shares of Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $6,245,085,000. USS Investment Management Ltd raised its stake in Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after acquiring an additional 256,851 shares during the period. Walter Public Investments Inc. lifted its holdings in Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after purchasing an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 0.9%

ICE stock opened at $158.68 on Friday. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. The company has a market capitalization of $89.08 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 1.55 and a beta of 0.92. The company’s 50-day simple moving average is $141.92 and its 200 day simple moving average is $151.63. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.81 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,709 shares of company stock valued at $2,646,042 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on ICE shares. Morgan Stanley decreased their price objective 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. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. The Goldman Sachs Group decreased their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, UBS Group restated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.33.

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.