Synergy Asset Management LLC Sells 5,130 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Synergy Asset Management LLC lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,428 shares of the financial services provider’s stock after selling 5,130 shares during the period. Intercontinental Exchange accounts for about 2.2% of Synergy Asset Management LLC’s portfolio, making the stock its 15th largest position. Synergy Asset Management LLC’s holdings in Intercontinental Exchange were worth $12,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in ICE. Pettyjohn Wood & White Inc. boosted its stake in Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares in the last quarter. Western Pacific Wealth Management LP increased its holdings in shares of Intercontinental Exchange by 4.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 80 shares during the period. Kampmann Melissa S. raised its stake in shares of Intercontinental Exchange by 0.3% in the fourth quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock worth $3,362,000 after purchasing an additional 85 shares during the last quarter. Assetmark Inc. boosted its position in Intercontinental Exchange by 0.8% in the fourth quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 86 shares during the last quarter. Finally, Marcum Wealth LLC increased its holdings in Intercontinental Exchange by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock worth $385,000 after buying an additional 87 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 2.3 %

NYSE:ICE traded up $3.21 on Tuesday, hitting $140.14. The stock had a trading volume of 1,617,337 shares, compared to its average volume of 2,342,483. The stock has a market cap of $80.38 billion, a price-to-earnings ratio of 31.41, a PEG ratio of 2.55 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The company has a fifty day moving average price of $134.52 and a two-hundred day moving average price of $132.90. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.47.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $167.00 in a research note on Monday. Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.29.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Judith A. Sprieser sold 2,267 shares of the 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 completion of the sale, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,895 shares in the company, valued at $161,893,392.95. The disclosure for this sale can be found here. Insiders have sold a total of 62,894 shares of company stock valued at $8,620,792 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.