United Capital Financial Advisors LLC Buys New Position in Intercontinental Exchange Inc. $ICE

United Capital Financial Advisors LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,151 shares of the financial services provider’s stock, valued at approximately $2,358,000.

A number of other institutional investors also recently bought and sold shares of ICE. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $26,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $30,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares in the company, valued at $3,547,697.40. This represents a 9.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the completion of the sale, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. This trade represents a 9.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,141 shares of company stock worth $3,554,192. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. UBS Group reiterated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. One 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $162.46 on Friday. The firm’s fifty day simple moving average is $144.90 and its 200-day simple moving average is $151.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market cap of $91.20 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.76.

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

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.