Cerity Partners LLC Purchases 14,401 Shares of Intercontinental Exchange Inc. $ICE

Cerity Partners LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% in the second quarter, Holdings Channel reports. The fund owned 266,446 shares of the financial services provider’s stock after acquiring an additional 14,401 shares during the period. Cerity Partners LLC’s holdings in Intercontinental Exchange were worth $48,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Norges Bank acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $1,542,780,000. Price T Rowe Associates Inc. MD increased its position in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares during the period. Nuveen LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth approximately $575,383,000. Wellington Management Group LLP boosted its position in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares during the period. Finally, Sands Capital Management LLC grew its stake in shares of Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. Morgan Stanley cut 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 note on Tuesday, October 21st. UBS Group dropped their price objective 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. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. TD Cowen decreased their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $194.70.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,770 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $152.52, for a total value of $269,960.40. Following the sale, the general counsel directly owned 44,212 shares in the company, valued at $6,743,214.24. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the transaction, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 168,044 shares of company stock worth $25,832,095 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $157.63 on Monday. The firm has a market cap of $89.88 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 2.40 and a beta of 1.04. The firm’s 50-day simple moving average is $155.39 and its 200-day simple moving average is $170.68. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company earned $1.55 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

About Intercontinental Exchange

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.