SeaCrest Wealth Management LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

SeaCrest Wealth Management LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,670 shares of the financial services provider’s stock after selling 183 shares during the period. SeaCrest Wealth Management LLC’s holdings in Intercontinental Exchange were worth $367,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC increased its stake in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Finally, Altshuler Shaham Ltd bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $141.14 on Thursday. The stock’s fifty day moving average is $134.79 and its two-hundred day moving average is $133.12. The company has a market capitalization of $80.96 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $141.59.

Intercontinental Exchange (NYSE:ICEGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.41 EPS. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Bank of America cut their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup boosted 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. Finally, JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.29.

Check Out Our Latest Stock Analysis on Intercontinental Exchange

Insiders Place Their Bets

In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the acquisition, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 4,506 shares of company stock worth $609,374. 1.10% of the stock is currently owned by company insiders.

About Intercontinental Exchange

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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