Arcadia Investment Management Corp MI Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

Arcadia Investment Management Corp MI decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,739 shares of the financial services provider’s stock after selling 1,496 shares during the quarter. Intercontinental Exchange makes up 2.7% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 10th largest position. Arcadia Investment Management Corp MI’s holdings in Intercontinental Exchange were worth $16,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Nuveen LLC purchased a new stake in shares of Intercontinental Exchange in the 1st quarter worth $575,383,000. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. C WorldWide Group Holding A S increased its stake in shares of Intercontinental Exchange by 29,199.5% during the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock valued at $303,129,000 after buying an additional 1,646,562 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Intercontinental Exchange by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after acquiring an additional 861,679 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. Morgan Stanley dropped their price objective 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $194.70.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction 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 directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 25,668 shares of company stock worth $4,304,167. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Down 0.5%

NYSE:ICE opened at $152.00 on Friday. The company has a market capitalization of $86.67 billion, a P/E ratio of 29.17, a PEG ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a fifty day simple moving average of $160.17 and a 200-day simple moving average of $172.67.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.