Security Financial Services INC. Increases Stock Holdings in Intercontinental Exchange Inc. $ICE

Security Financial Services INC. raised its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 18.0% during the second quarter, Holdings Channel reports. The firm owned 2,365 shares of the financial services provider’s stock after purchasing an additional 360 shares during the period. Security Financial Services INC.’s holdings in Intercontinental Exchange were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Capital Management LLC lifted its position in shares of Intercontinental Exchange by 25.0% during the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares in the last quarter. Trillium Asset Management LLC raised its holdings in shares of Intercontinental Exchange by 12.0% during the second quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Intercontinental Exchange by 6.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after purchasing an additional 55,057 shares during the last quarter. King Luther Capital Management Corp increased its holdings in shares of Intercontinental Exchange by 19.7% in the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock worth $53,961,000 after acquiring an additional 48,344 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $1,075,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.5%

Intercontinental Exchange stock opened at $152.00 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 firm has a market capitalization of $86.67 billion, a PE ratio of 29.17, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company’s 50-day moving average is $160.17 and its 200-day moving average is $172.67.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ICE. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday. TD Cowen lowered their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $194.70.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 25,668 shares of company stock worth $4,304,167 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.