Financial Enhancement Group LLC Sells 726 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Financial Enhancement Group LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,841 shares of the financial services provider’s stock after selling 726 shares during the quarter. Intercontinental Exchange accounts for approximately 1.3% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 29th largest holding. Financial Enhancement Group LLC’s holdings in Intercontinental Exchange were worth $7,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ICE. Scarborough Advisors LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $25,000. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange in the third quarter worth about $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth about $28,000. Finally, Altshuler Shaham Ltd bought a new position in Intercontinental Exchange in the fourth quarter worth about $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $0.06 during trading hours on Wednesday, reaching $137.39. The stock had a trading volume of 2,335,791 shares, compared to its average volume of 2,336,084. The stock has a fifty day moving average of $134.14 and a 200 day moving average of $132.51. The stock has a market cap of $78.81 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.06. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $140.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Bank of America dropped their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.29.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,238 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the transaction, the director now directly owns 29,347 shares of the company’s stock, valued at $4,031,103.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,238 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the transaction, the director now directly owns 29,347 shares of the company’s stock, valued at $4,031,103.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,234 shares of company stock valued at $8,668,823. 1.10% of the stock is owned by company insiders.

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.