Howe & Rusling Inc. Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Howe & Rusling Inc. cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,933 shares of the financial services provider's stock after selling 9,489 shares during the period. Intercontinental Exchange comprises approximately 1.5% of Howe & Rusling Inc.'s investment portfolio, making the stock its 17th biggest position. Howe & Rusling Inc.'s holdings in Intercontinental Exchange were worth $17,178,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its position in shares of Intercontinental Exchange by 30.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,759 shares of the financial services provider's stock worth $5,464,000 after acquiring an additional 9,340 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Intercontinental Exchange by 31.9% in the first quarter. Lake Street Advisors Group LLC now owns 4,543 shares of the financial services provider's stock valued at $624,000 after buying an additional 1,099 shares during the period. Delap Wealth Advisory LLC boosted its holdings in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Delap Wealth Advisory LLC now owns 1,941 shares of the financial services provider's stock worth $267,000 after buying an additional 136 shares in the last quarter. EP Wealth Advisors LLC increased its stake in shares of Intercontinental Exchange by 4.2% in the 1st quarter. EP Wealth Advisors LLC now owns 6,106 shares of the financial services provider's stock valued at $839,000 after acquiring an additional 248 shares in the last quarter. Finally, First Commonwealth Financial Corp PA grew its holdings in Intercontinental Exchange by 69.9% in the first quarter. First Commonwealth Financial Corp PA now owns 9,039 shares of the financial services provider's stock worth $1,242,000 after purchasing an additional 3,718 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company's stock, valued at $7,159,108.05. This represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the company's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company's stock, valued at $629,242.84. This trade represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $1,202,259 in the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $2.16 during trading hours on Wednesday, reaching $155.77. The stock had a trading volume of 1,853,346 shares, compared to its average volume of 2,574,075. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $89.44 billion, a P/E ratio of 37.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The stock has a 50 day simple moving average of $160.81 and a 200 day simple moving average of $150.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts' consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned $1.46 earnings per share. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICE. Morgan Stanley raised their target price 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. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.13.

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.