Comprehensive Financial Consultants Institutional Inc. Sells 10,385 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Comprehensive Financial Consultants Institutional Inc. reduced its stake in Intercontinental Exchange Inc. (ICE) by 66.1%, selling 10,385 shares and leaving them with 5,317 shares valued at approximately $976,000.
• Major institutional investors significantly increased their positions in Intercontinental Exchange, with Price T Rowe Associates boosting its stake by 491.3% and other firms such as Nuveen LLC and Wellington Management Group also acquiring large amounts of stock.
• Analyst ratings for Intercontinental Exchange show a current average rating of "Moderate Buy" with a consensus price target of $198.20, indicating positive sentiment among investment analysts.

Comprehensive Financial Consultants Institutional Inc. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 66.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,317 shares of the financial services provider's stock after selling 10,385 shares during the quarter. Comprehensive Financial Consultants Institutional Inc.'s holdings in Intercontinental Exchange were worth $976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Nuveen LLC purchased a new stake in Intercontinental Exchange during the 1st quarter valued at $575,383,000. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after acquiring an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Intercontinental Exchange by 31.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider's stock valued at $616,836,000 after acquiring an additional 861,679 shares during the period. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ICE shares. Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Barclays boosted their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $198.20.

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This trade represents a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,874 shares of company stock valued at $42,187,714 in the last ninety days. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.9%

Shares of Intercontinental Exchange stock opened at $162.47 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average price of $176.53 and a 200 day moving average price of $174.67. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The stock has a market cap of $93.00 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange 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.

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