Groesbeck Investment Management Corp NJ Sells 1,625 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Groesbeck Investment Management Corp NJ lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 24.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,963 shares of the financial services provider’s stock after selling 1,625 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Intercontinental Exchange were worth $797,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Annapolis Financial Services LLC lifted its position in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, 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 value of $80,920.82. Following the completion of the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s 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 completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research note on Monday, October 14th. Barclays boosted their price target on Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $1.59 on Friday, reaching $165.31. 2,994,060 shares of the stock were exchanged, compared to its average volume of 2,395,737. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.64. The firm has a market capitalization of $94.91 billion, a price-to-earnings ratio of 40.92, a PEG ratio of 2.50 and a beta of 1.08. The business has a 50 day moving average price of $161.43 and a two-hundred day moving average price of $147.00.

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 company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.12 earnings per share for the current fiscal year.

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.