United Services Automobile Association Sells 1,160 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

United Services Automobile Association reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,743 shares of the financial services provider’s stock after selling 1,160 shares during the quarter. United Services Automobile Association’s holdings in Intercontinental Exchange were worth $2,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ICE. Annapolis Financial Services LLC boosted its stake in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares during the period. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $25,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday. Citigroup boosted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays raised their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $161.70 on Tuesday. The stock has a 50 day simple moving average of $152.59 and a 200 day simple moving average of $141.38. The stock has a market cap of $92.75 billion, a P/E ratio of 37.09, a PEG ratio of 2.82 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now directly owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO James W. Namkung sold 1,043 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares in the company, valued at approximately $2,675,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the sale, the director now owns 26,908 shares in the company, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Insiders sold 66,346 shares of company stock worth $9,472,911 over the last three months. Insiders own 1.10% of the company’s stock.

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.