AdvisorShares Investments LLC Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

AdvisorShares Investments LLC raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,766 shares of the financial services provider’s stock after acquiring an additional 3,128 shares during the quarter. Intercontinental Exchange makes up approximately 1.1% of AdvisorShares Investments LLC’s holdings, making the stock its 19th largest position. AdvisorShares Investments LLC’s holdings in Intercontinental Exchange were worth $6,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ICE. AGF Management Ltd. raised its holdings in Intercontinental Exchange by 11.0% in the second quarter. AGF Management Ltd. now owns 2,208,036 shares of the financial services provider’s stock worth $302,258,000 after purchasing an additional 218,516 shares in the last quarter. Vaughan David Investments LLC IL increased its stake in shares of Intercontinental Exchange by 1.9% in the 2nd quarter. Vaughan David Investments LLC IL now owns 287,980 shares of the financial services provider’s stock worth $39,422,000 after acquiring an additional 5,337 shares in the last quarter. MGO One Seven LLC increased its stake in shares of Intercontinental Exchange by 41.1% in the 2nd quarter. MGO One Seven LLC now owns 11,259 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 3,277 shares in the last quarter. Headlands Technologies LLC lifted its position in Intercontinental Exchange by 179.2% during the 2nd quarter. Headlands Technologies LLC now owns 16,645 shares of the financial services provider’s stock valued at $2,279,000 after acquiring an additional 10,683 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Intercontinental Exchange by 5.4% during the second quarter. Coldstream Capital Management Inc. now owns 9,281 shares of the financial services provider’s stock worth $1,271,000 after acquiring an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Intercontinental Exchange Stock Performance

ICE stock opened at $161.96 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The company has a market cap of $92.90 billion, a P/E ratio of 37.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. The stock’s fifty day moving average price is $153.01 and its 200-day moving average price is $141.55.

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

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the sale, the director now directly owns 26,908 shares in the company, valued at approximately $4,323,846.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Insiders sold a total of 66,346 shares of company stock worth $9,472,911 over the last three months. 1.10% of the stock is currently owned by company insiders.

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.