McKinley Carter Wealth Services Inc. Buys Shares of 27,173 Intercontinental Exchange Inc. $ICE

Key Points

• McKinley Carter Wealth Services Inc. has acquired 27,173 shares of Intercontinental Exchange Inc. ($ICE), valued at approximately $4.99 million, according to a recent SEC filing.
• Insiders at Intercontinental Exchange have sold a total of 230,874 shares worth roughly $42.2 million in the last quarter, indicating a notable reduction in their holdings.
• Analysts have a consensus rating of "Moderate Buy" for Intercontinental Exchange, with a target price averaging $197.10, despite recent fluctuations in share price.

McKinley Carter Wealth Services Inc. bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,173 shares of the financial services provider's stock, valued at approximately $4,986,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Advisors Capital Management LLC grew 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 buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at $349,000. Sequoia Financial Advisors LLC grew its stake in shares of Intercontinental Exchange by 18.3% in 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 buying an additional 1,879 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock valued at $1,372,000 after buying an additional 2,732 shares in the last quarter. Finally, First American Bank grew its stake in shares of Intercontinental Exchange by 2.1% in the first quarter. First American Bank now owns 76,332 shares of the financial services provider's stock valued at $13,167,000 after buying an additional 1,580 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction dated 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 sale, the director directly owned 14,299 shares of the company's stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 230,874 shares of company stock worth $42,187,714. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.2%

NYSE:ICE opened at $159.11 on Friday. The stock has a 50-day simple moving average of $174.55 and a 200-day simple moving average of $174.26. The stock has a market cap of $91.08 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.94 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 company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

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 (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ICE. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Keefe, Bruyette & Woods raised Intercontinental Exchange to a "moderate buy" rating in a research note on Monday. Barclays reissued an "overweight" rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus 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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