Stegent Equity Advisors Inc. Raises Stake in Intercontinental Exchange Inc. $ICE

Stegent Equity Advisors Inc. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 38.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,131 shares of the financial services provider’s stock after acquiring an additional 865 shares during the quarter. Stegent Equity Advisors Inc.’s holdings in Intercontinental Exchange were worth $574,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ICE. Tsfg LLC lifted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the last quarter. Princeton Global Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $28,000. Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $157.71 on Friday. The firm’s fifty day simple moving average is $168.26 and its 200-day simple moving average is $173.56. The stock has a market capitalization of $90.28 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 2.20 and a beta of 1.08. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ICE. 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 report on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday. UBS Group boosted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Barclays reaffirmed an “overweight” rating and issued a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $198.60.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the transaction, the chief technology officer directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This represents a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,162 shares of company stock worth $43,642,652 in the last ninety days. Insiders own 1.00% of the company’s stock.

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.