Empirical Finance LLC Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Empirical Finance LLC lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,446 shares of the financial services provider’s stock after selling 532 shares during the quarter. Empirical Finance LLC’s holdings in Intercontinental Exchange were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Annapolis Financial Services LLC grew 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 period. New Millennium Group LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.8 %

Shares of NYSE ICE opened at $161.55 on Friday. The stock has a fifty day moving average price of $149.68 and a 200 day moving average price of $140.28. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $161.97. The company has a market cap of $92.66 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period last year, the business posted $1.43 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders sold 66,346 shares of company stock valued at $9,472,911 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Citigroup upped their target price 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 reiterated a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $154.93.

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.