Avalon Trust Co Has $244,000 Holdings in Intercontinental Exchange Inc. $ICE

Avalon Trust Co increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1,524.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,332 shares of the financial services provider’s stock after acquiring an additional 1,250 shares during the period. Avalon Trust Co’s holdings in Intercontinental Exchange were worth $244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. D Orazio & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $200,000. ABN Amro Investment Solutions bought a new position in shares of Intercontinental Exchange during the second quarter worth about $90,410,000. Candriam S.C.A. raised its position in Intercontinental Exchange by 31.5% in the 2nd quarter. Candriam S.C.A. now owns 461,821 shares of the financial services provider’s stock valued at $84,734,000 after buying an additional 110,734 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in Intercontinental Exchange by 4.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 86,720 shares of the financial services provider’s stock valued at $15,911,000 after acquiring an additional 3,770 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 1.3%

ICE stock opened at $154.00 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The business’s 50 day simple moving average is $161.05 and its 200 day simple moving average is $172.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $87.81 billion, a PE ratio of 29.56, a PEG ratio of 2.11 and a beta of 1.06.

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

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Morgan Stanley lowered their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Finally, Raymond James Financial raised 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $194.70.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,587 shares of company stock worth $3,989,936 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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.