Intercontinental Exchange Inc. $ICE Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,151 shares of the financial services provider’s stock after selling 3,768 shares during the period. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $15,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Advisors Capital Management LLC increased its holdings in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock valued at $341,000 after buying an additional 396 shares during the last quarter. Trillium Asset Management LLC boosted its position in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after acquiring an additional 29,250 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $1,075,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Intercontinental Exchange by 18.5% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 103,206 shares of the financial services provider’s stock worth $18,935,000 after acquiring an additional 16,100 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Intercontinental Exchange by 6.0% during the 1st quarter. LPL Financial LLC now owns 482,151 shares of the financial services provider’s stock worth $83,171,000 after acquiring an additional 27,443 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 240,162 shares of company stock valued at $43,642,652 in the last three months. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $148.93 on Monday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a 50-day moving average price of $162.47 and a 200 day moving average price of $173.20. The company has a market cap of $84.92 billion, a P/E ratio of 28.59, a PEG ratio of 2.11 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 0.61.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $191.82.

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.