Arcadia Investment Management Corp MI Sells 450 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Arcadia Investment Management Corp MI cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,904 shares of the financial services provider’s stock after selling 450 shares during the period. Intercontinental Exchange makes up about 2.3% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 14th biggest holding. Arcadia Investment Management Corp MI’s holdings in Intercontinental Exchange were worth $13,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Annapolis Financial Services LLC lifted its stake in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 1st quarter valued at approximately $26,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,346 shares of company stock worth $9,472,911. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.4 %

Shares of NYSE:ICE traded down $0.69 on Friday, reaching $161.91. The company had a trading volume of 187,517 shares, compared to its average volume of 2,437,007. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.62. The firm’s 50 day simple moving average is $151.62 and its 200-day simple moving average is $140.99. The firm has a market capitalization of $92.87 billion, a PE ratio of 37.29, a PEG ratio of 2.84 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results 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. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $1.43 EPS. The business’s revenue was up 22.7% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ICE shares. Argus reiterated a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Barclays increased their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

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.