Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 96,904 shares of the financial services provider’s stock after selling 450 shares during the quarter. Intercontinental Exchange comprises about 2.3% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 14th largest holding. Arcadia Investment Management Corp MI’s holdings in Intercontinental Exchange were worth $13,265,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American National Bank raised its stake in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Intercontinental Exchange by 3.4% during the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after buying an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Intercontinental Exchange by 1.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock valued at $559,000 after buying an additional 74 shares during the last quarter. Founders Financial Securities LLC raised its stake in shares of Intercontinental Exchange by 4.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after buying an additional 74 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its stake in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 75 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 66,346 shares of company stock worth $9,472,911 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Argus restated a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Finally, The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.69 on Friday, hitting $161.91. 187,517 shares of the company were exchanged, compared to its average volume of 2,437,007. The stock has a market capitalization of $92.87 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.84 and a beta of 1.08. The company has a 50-day moving average price of $151.62 and a 200 day moving average price of $140.99. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.62. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Intercontinental Exchange 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.