Cove Private Wealth LLC Has $838,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Cove Private Wealth LLC grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 275.0% in the 4th quarter, Holdings Channel reports. The fund owned 5,625 shares of the financial services provider’s stock after buying an additional 4,125 shares during the period. Cove Private Wealth LLC’s holdings in Intercontinental Exchange were worth $838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the period. FMR LLC lifted its holdings in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the period. Parnassus Investments LLC grew its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This trade represents a 5.54 % 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 hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock worth $2,120,572 over the last three months. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. TD Cowen initiated coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday. Keefe, Bruyette & Woods reduced their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Stock Down 0.8 %

ICE stock opened at $149.07 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The stock’s 50 day simple moving average is $153.20 and its 200 day simple moving average is $155.63. The company has a market cap of $85.59 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

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.