Alpha Cubed Investments LLC Boosts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Alpha Cubed Investments LLC grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,573 shares of the financial services provider’s stock after acquiring an additional 3,171 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $12,751,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC raised its position in Intercontinental Exchange by 1.2% during the 2nd quarter. Intech Investment Management LLC now owns 15,527 shares of the financial services provider’s stock valued at $2,125,000 after purchasing an additional 189 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Intercontinental Exchange by 139.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,634 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 2,117 shares during the last quarter. Sei Investments Co. boosted its holdings in Intercontinental Exchange by 14.3% in the second quarter. Sei Investments Co. now owns 398,803 shares of the financial services provider’s stock worth $54,592,000 after acquiring an additional 49,933 shares in the last quarter. ProShare Advisors LLC boosted its stake in Intercontinental Exchange by 5.0% in the 2nd quarter. ProShare Advisors LLC now owns 116,480 shares of the financial services provider’s stock worth $15,945,000 after purchasing an additional 5,564 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its stake in shares of Intercontinental Exchange by 16,435.7% during the second quarter. Frank Rimerman Advisors LLC now owns 4,630 shares of the financial services provider’s stock worth $634,000 after buying an additional 4,602 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now directly owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ICE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $149.07 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $153.20 and a 200 day moving average price of $155.73. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $167.99. The company has a market cap of $85.59 billion, a P/E ratio of 35.33, a PEG ratio of 2.84 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Research analysts predict that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current 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.