Goodman Advisory Group LLC Invests $1.64 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Goodman Advisory Group LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,008 shares of the financial services provider's stock, valued at approximately $1,644,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider's stock valued at $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Point72 Europe London LLP increased its holdings in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider's stock valued at $8,515,000 after acquiring an additional 6,500 shares during the last quarter. Perpetual Ltd raised its position in shares of Intercontinental Exchange by 0.4% during the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider's stock valued at $204,495,000 after acquiring an additional 6,272 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider's stock valued at $18,764,000 after acquiring an additional 122,169 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Intercontinental Exchange by 7.0% during the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider's stock worth $43,617,000 after purchasing an additional 20,802 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE traded up $0.50 during trading hours on Friday, reaching $158.62. 3,329,491 shares of the company's stock traded hands, compared to its average volume of 2,499,804. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The business's fifty day simple moving average is $156.89 and its two-hundred day simple moving average is $143.46. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $90.98 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.81 and a beta of 1.08.

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

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares in the company, valued at $2,174,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company's stock, valued at $2,202,819.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 1,000 shares of the company's stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares of the company's stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Insiders have sold 66,268 shares of company stock worth $9,508,809 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on ICE shares. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an "overweight" rating in a research note on Monday, September 16th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday. They issued a "buy" rating and a $182.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $162.47.

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.