EP Wealth Advisors LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

EP Wealth Advisors LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,613 shares of the financial services provider's stock, valued at approximately $4,015,000.

A number of other hedge funds have also modified their holdings of the business. Ares Financial Consulting LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $30,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on ICE. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Barclays restated an "overweight" rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group cut their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $183.33.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares of the company's stock, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the transaction, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,200 shares of company stock worth $3,035,385 over the last ninety days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $161.29 on Friday. The company has a market cap of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.65. The business has a fifty day simple moving average of $142.34 and a 200-day simple moving average of $151.69.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The business's quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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