GW Henssler & Associates Ltd. Sells 3,270 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• GW Henssler & Associates Ltd. decreased its stake in Intercontinental Exchange by 1.4%, selling 3,270 shares and now holding 228,501 shares worth approximately $41.9 million.
• A number of institutional investors have increased their stakes in Intercontinental Exchange, with Ritholtz Wealth Management leading the way with a 52.3% increase in their holdings during the first quarter.
• Intercontinental Exchange reported $1.81 earnings per share for the last quarter, surpassing estimates, and had a net margin of 23.92% with revenue of $3.26 billion.

GW Henssler & Associates Ltd. lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,501 shares of the financial services provider's stock after selling 3,270 shares during the quarter. Intercontinental Exchange comprises approximately 2.2% of GW Henssler & Associates Ltd.'s investment portfolio, making the stock its 6th biggest holding. GW Henssler & Associates Ltd.'s holdings in Intercontinental Exchange were worth $41,923,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Advisors Capital Management LLC increased its stake in shares of Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC acquired a new position in shares of Intercontinental Exchange during the first quarter valued at approximately $349,000. Sequoia Financial Advisors LLC increased its stake in shares of Intercontinental Exchange by 18.3% during the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after acquiring an additional 1,879 shares during the period. Ritholtz Wealth Management increased its stake in shares of Intercontinental Exchange by 52.3% during the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock valued at $1,372,000 after acquiring an additional 2,732 shares during the period. Finally, First American Bank increased its stake in shares of Intercontinental Exchange by 2.1% during the first quarter. First American Bank now owns 76,332 shares of the financial services provider's stock valued at $13,167,000 after acquiring an additional 1,580 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director owned 14,299 shares of the company's stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel directly owned 46,293 shares of the company's stock, valued at $8,255,430.69. This represents a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 240,956 shares of company stock worth $43,789,542. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Down 1.1%

Intercontinental Exchange stock opened at $157.51 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $90.16 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.08. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm's 50 day moving average price is $174.01 and its two-hundred day moving average price is $174.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. Barclays reiterated an "overweight" rating and set a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research note on Thursday, September 25th. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a "moderate buy" rating in a research note on Monday, October 6th. Finally, Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $197.10.

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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