Perennial Investment Advisors LLC Has $694,000 Stock Position in Intercontinental Exchange Inc. $ICE

Perennial Investment Advisors LLC decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 29.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,783 shares of the financial services provider’s stock after selling 1,553 shares during the period. Perennial Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $694,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $28,000. Activest Wealth Management grew its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $29,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange during the 1st quarter worth $30,000. Finally, Hilltop National Bank bought a new position in shares of Intercontinental Exchange in the second quarter worth $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock opened at $152.82 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $159.29 and its 200-day moving average is $172.45. The stock has a market capitalization of $87.13 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price on the stock in a research report on Monday, October 13th. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Finally, UBS Group decreased their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One equities 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 company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $194.70.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 24,098 shares of company stock valued at $4,024,000 in the last quarter. 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.