Intercontinental Exchange Inc. $ICE Shares Acquired by Westwood Holdings Group Inc.

by · The Markets Daily

Westwood Holdings Group Inc. raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 538,101 shares of the financial services provider’s stock after purchasing an additional 63,804 shares during the period. Intercontinental Exchange comprises about 0.9% of Westwood Holdings Group Inc.’s portfolio, making the stock its 25th largest holding. Westwood Holdings Group Inc.’s holdings in Intercontinental Exchange were worth $98,725,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ICE. Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter worth $29,000. Activest Wealth Management lifted its holdings in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the last quarter. Hilltop National Bank bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $31,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Intercontinental Exchange in the first quarter worth about $30,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ICE shares. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. UBS Group lowered their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Finally, TD Cowen lowered their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $194.70.

Get Our Latest Stock Analysis on Intercontinental Exchange

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 25,668 shares of company stock valued at $4,304,167. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.5%

Shares of ICE opened at $152.00 on Friday. The business’s fifty day moving average price is $160.17 and its two-hundred day moving average price is $172.67. The firm has a market capitalization of $86.67 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Profile

(Free Report)

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.

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