Synergy Asset Management LLC Has $12.98 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Synergy Asset Management LLC trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,428 shares of the financial services provider’s stock after selling 5,130 shares during the period. Intercontinental Exchange comprises 2.2% of Synergy Asset Management LLC’s holdings, making the stock its 15th largest position. Synergy Asset Management LLC’s holdings in Intercontinental Exchange were worth $12,977,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Intercontinental Exchange by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,279,484 shares of the financial services provider’s stock valued at $175,839,000 after buying an additional 43,499 shares during the last quarter. Oak Thistle LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at $866,000. Hexagon Capital Partners LLC boosted its holdings in Intercontinental Exchange by 34.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 727 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 186 shares during the period. LVW Advisors LLC grew its position in shares of Intercontinental Exchange by 6.9% during the 1st quarter. LVW Advisors LLC now owns 2,184 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 141 shares in the last quarter. Finally, Fiduciary Alliance LLC bought a new position in shares of Intercontinental Exchange during the first quarter worth approximately $1,798,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the sale, the chief executive officer now owns 1,179,895 shares in the company, valued at $161,893,392.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the purchase, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,894 shares of company stock valued at $8,620,792. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of recent analyst reports. Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the company from $143.00 to $167.00 in a research note on Monday. Finally, StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.29.

Intercontinental Exchange Stock Up 2.3 %

Intercontinental Exchange stock traded up $3.21 during mid-day trading on Tuesday, reaching $140.14. The stock had a trading volume of 1,617,337 shares, compared to its average volume of 2,342,483. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $140.47. The stock’s 50-day simple moving average is $134.52 and its 200-day simple moving average is $132.90. The firm has a market capitalization of $80.38 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.