Prime Capital Investment Advisors LLC Lowers Position in Intercontinental Exchange Inc. $ICE

Prime Capital Investment Advisors LLC lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 23.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,989 shares of the financial services provider’s stock after selling 939 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $548,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ICE. Brighton Jones LLC raised its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in Intercontinental Exchange by 9.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,167 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC raised its position in Intercontinental Exchange by 42.0% during the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider’s stock valued at $2,265,000 after purchasing an additional 3,883 shares in the last quarter. Simplicity Wealth LLC raised its position in Intercontinental Exchange by 8.6% during the first quarter. Simplicity Wealth LLC now owns 1,510 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 119 shares in the last quarter. Finally, CX Institutional raised its position in Intercontinental Exchange by 10.4% during the first quarter. CX Institutional now owns 4,166 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.1%

NYSE ICE opened at $157.51 on Friday. 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 stock has a market capitalization of $90.16 billion, a PE ratio of 30.23, a PEG ratio of 1.94 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 business’s 50-day moving average is $174.01 and its 200 day moving average is $174.13.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) 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 return on equity of 13.66% and a net margin of 23.92%.Intercontinental Exchange’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares in the company, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock valued at $43,789,542 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ICE shares. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday. Morgan Stanley reduced their price objective on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $197.10.

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.