Novare Capital Management LLC Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Novare Capital Management LLC increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,753 shares of the financial services provider’s stock after buying an additional 360 shares during the quarter. Novare Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,096,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ICE. Quintet Private Bank Europe S.A. grew its position in Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the period. Commons Capital LLC grew its holdings in Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after buying an additional 70 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on ICE. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Barclays dropped their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Trading Down 0.1 %

NYSE:ICE opened at $157.52 on Friday. The firm has a market capitalization of $90.45 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.95 and a beta of 1.10. The business has a 50 day simple moving average of $152.98 and a 200 day simple moving average of $155.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.05 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.