Hantz Financial Services Inc. Acquires Shares of 11,712 Intercontinental Exchange, Inc. (NYSE:ICE)

Hantz Financial Services Inc. bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,712 shares of the financial services provider’s stock, valued at approximately $1,603,000.

A number of other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Annapolis Financial Services LLC raised its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the 1st quarter worth about $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $161.55 on Friday. The company has a market capitalization of $92.75 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.84 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $161.97. The firm’s 50 day simple moving average is $149.68 and its two-hundred day simple moving average is $140.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

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 company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. Research analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ICE shares. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Three 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,346 shares of company stock worth $9,472,911. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.