Segment Wealth Management LLC Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

Segment Wealth Management LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,407 shares of the financial services provider’s stock after selling 356 shares during the quarter. Segment Wealth Management LLC’s holdings in Intercontinental Exchange were worth $9,065,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Intercontinental Exchange during the first quarter worth $88,000. Breakwater Capital Group purchased a new stake in shares of Intercontinental Exchange during the first quarter worth $417,000. Fjell Capital LLC raised its holdings in Intercontinental Exchange by 1.7% during the first quarter. Fjell Capital LLC now owns 5,897 shares of the financial services provider’s stock valued at $1,017,000 after buying an additional 98 shares in the last quarter. Finally, Generali Investments Management Co LLC increased its stake in shares of Intercontinental Exchange by 12.6% in the first quarter. Generali Investments Management Co LLC now owns 6,035 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 675 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $162.47 on Friday. The company’s 50 day simple moving average is $176.53 and its 200 day simple moving average is $174.67. The stock has a market capitalization of $93.00 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 earnings per share. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ICE has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays increased their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.20.

Insiders Place Their Bets

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company’s 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 sale, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock worth $42,187,714 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

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.