Prospera Financial Services Inc Has $1.75 Million Stake in Intercontinental Exchange Inc. $ICE

Prospera Financial Services Inc increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,520 shares of the financial services provider’s stock after buying an additional 860 shares during the quarter. Prospera Financial Services Inc’s holdings in Intercontinental Exchange were worth $1,747,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company’s stock, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,587 shares of company stock valued at $3,989,936 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ICE shares. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. Morgan Stanley decreased 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 research report on Tuesday, October 21st. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Price Performance

NYSE ICE opened at $152.09 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $161.47 and a 200 day simple moving average of $173.02. The company has a market cap of $86.72 billion, a P/E ratio of 29.19, a P/E/G 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 announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Company 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.