Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,350 shares of the financial services provider’s stock after selling 328 shares during the period. Confluence Wealth Services Inc.’s holdings in Intercontinental Exchange were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ICE. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter worth $839,259,000. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Capital World Investors boosted its holdings in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on ICE. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays lifted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Citigroup upped their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Stock Performance

ICE stock opened at $161.55 on Monday. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $161.97. The stock has a market capitalization of $92.75 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s fifty day moving average is $149.68 and its two-hundred day moving average is $140.35.

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

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,043 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’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 sale, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,346 shares of company stock worth $9,472,911. Company insiders own 1.10% of the company’s stock.

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.