Glenview Trust Co Acquires Shares of 6,909 Intercontinental Exchange Inc. $ICE

Glenview Trust Co acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,909 shares of the financial services provider’s stock, valued at approximately $851,000.

A number of other hedge funds also recently modified their holdings of the stock. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the period. Mission Wealth Management LP boosted its holdings in shares of Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the period. Johnson Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 65 shares during the period. Cornerstone Planning Group LLC grew its position in shares of Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares during the last quarter. Finally, Burns J W & Co. Inc. NY grew its position in shares of Intercontinental Exchange by 0.6% in the first quarter. Burns J W & Co. Inc. NY now owns 12,189 shares of the financial services provider’s stock valued at $1,917,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the transaction, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. The trade was a 9.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. This represents a 8.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,141 shares of company stock valued at $3,554,192. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 0.8%

Shares of Intercontinental Exchange stock opened at $162.46 on Friday. The firm’s 50-day moving average price is $144.90 and its two-hundred day moving average price is $151.50. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $177.76. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $91.20 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, UBS Group restated 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 analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus 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.