WealthShield Partners LLC Takes Position in Intercontinental Exchange Inc. $ICE

WealthShield Partners LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,048 shares of the financial services provider’s stock, valued at approximately $2,961,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. J. Stern & Co. LLP lifted its holdings in Intercontinental Exchange by 17,398.1% in 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 buying an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $6,245,085,000. State Street Corp grew its position in shares of Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after buying an additional 158,450 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.7%

NYSE ICE opened at $161.29 on Friday. The firm has a market capitalization of $90.55 billion, a PE ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. The stock’s 50 day moving average is $142.34 and its 200 day moving average is $151.69. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.81 earnings per share. Research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 20,200 shares of company stock worth $3,035,385. 0.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. TD Cowen reiterated a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays restated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Profile

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.