Intercontinental Exchange Inc. $ICE Shares Sold by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 86.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,710 shares of the financial services provider’s stock after selling 10,751 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Intercontinental Exchange were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ICE. J. Stern & Co. LLP boosted its holdings in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Viking Global Investors LP acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $777,926,000. Boston Partners lifted its position in Intercontinental Exchange by 148.6% during the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after buying an additional 1,914,851 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in Intercontinental Exchange by 569.8% during the fourth quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock worth $358,142,000 after buying an additional 1,880,835 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,454 shares of company stock worth $2,469,349 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.1%

Shares of NYSE:ICE opened at $151.33 on Thursday. The company has a market capitalization of $84.96 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.49 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $183.65. The business has a 50-day moving average price of $140.05 and a 200 day moving average price of $152.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.81 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on ICE. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.