Copley Financial Group Inc. Invests $478,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Copley Financial Group Inc. purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,978 shares of the financial services provider’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $14,880,000. Inspire Trust Co. N.A. boosted its stake in Intercontinental Exchange by 2.4% in the third quarter. Inspire Trust Co. N.A. now owns 12,000 shares of the financial services provider’s stock valued at $1,928,000 after acquiring an additional 283 shares during the last quarter. Franklin Resources Inc. grew its holdings in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares during the period. Synovus Financial Corp raised its position in shares of Intercontinental Exchange by 7.1% during the 3rd quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider’s stock valued at $5,441,000 after acquiring an additional 2,247 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Intercontinental Exchange by 180.6% in the 3rd quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider’s stock valued at $15,820,000 after purchasing an additional 63,382 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.5 %

NYSE:ICE traded down $0.72 during trading hours on Friday, reaching $155.83. 186,661 shares of the company traded hands, compared to its average volume of 2,591,720. The stock has a market capitalization of $89.47 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.61 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 1 year low of $121.56 and a 1 year high of $167.99. The business’s 50-day moving average price is $160.04 and its two-hundred day moving average price is $153.11.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Bank of America lifted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group boosted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their price target 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. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.07.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 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.