Soltis Investment Advisors LLC Purchases New Shares in Intercontinental Exchange, Inc. (NYSE:ICE)

Soltis Investment Advisors LLC acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,450 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other large investors have also modified their holdings of ICE. Rehmann Capital Advisory Group raised its holdings in Intercontinental Exchange by 1.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 6,843 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 128 shares during the period. TD Private Client Wealth LLC raised its stake in shares of Intercontinental Exchange by 3.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 17,882 shares of the financial services provider’s stock worth $2,873,000 after buying an additional 522 shares during the period. Toronto Dominion Bank lifted its position in shares of Intercontinental Exchange by 1.6% during the 3rd quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after buying an additional 4,973 shares in the last quarter. Chiron Investment Management LLC grew its stake in Intercontinental Exchange by 3.9% in the 3rd quarter. Chiron Investment Management LLC now owns 46,992 shares of the financial services provider’s stock valued at $7,549,000 after acquiring an additional 1,768 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in Intercontinental Exchange by 48.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 13,806 shares of the financial services provider’s stock worth $2,198,000 after acquiring an additional 4,525 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ICE. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $175.07.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,901 shares of company stock valued at $1,582,542. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $156.55 on Friday. The firm has a 50-day simple moving average of $160.18 and a two-hundred day simple moving average of $153.08. The stock has a market cap of $89.89 billion, a PE ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $117.49 and a 1-year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

About Intercontinental Exchange

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.