Yousif Capital Management LLC Reduces Position in Intercontinental Exchange Inc. $ICE

Yousif Capital Management LLC lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,996 shares of the financial services provider’s stock after selling 964 shares during the period. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $14,310,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $30,000. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction 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 $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,956 shares of company stock valued at $43,789,542. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $158.85 on Tuesday. The firm’s fifty day simple moving average is $173.41 and its two-hundred day simple moving average is $173.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm has a market capitalization of $90.93 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.93 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly 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. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research note on Thursday, September 25th. Raymond James Financial raised 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 research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $199.60.

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.