Intercontinental Exchange Inc. (ICE) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 40.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,685 shares of the financial services provider’s stock after buying an additional 7,691 shares during the period. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $1,759,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ICE. Norway Savings Bank raised its position in Intercontinental Exchange by 16.7% in the second quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after buying an additional 235 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock worth $138,000 after buying an additional 16 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Intercontinental Exchange by 117.0% in the first quarter. Clearbridge Investments LLC now owns 2,346 shares of the financial services provider’s stock worth $140,000 after buying an additional 1,265 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Intercontinental Exchange by 45.3% in the first quarter. Parallel Advisors LLC now owns 2,400 shares of the financial services provider’s stock worth $145,000 after buying an additional 748 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of Intercontinental Exchange by 225.4% in the second quarter. Huntington National Bank now owns 2,873 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,990 shares during the last quarter. 89.38% of the stock is owned by hedge funds and other institutional investors.

Shares of Intercontinental Exchange Inc. (ICE) opened at 64.59 on Friday. The stock has a 50 day moving average price of $65.84 and a 200 day moving average price of $61.74. Intercontinental Exchange Inc. has a one year low of $52.27 and a one year high of $67.48. The stock has a market capitalization of $7.43 billion, a P/E ratio of 23.93 and a beta of 0.71.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. Equities analysts forecast that Intercontinental Exchange Inc. will post $2.95 earnings per share for the current year.

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ICE has been the subject of a number of research reports. Royal Bank Of Canada reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Tuesday. BidaskClub raised Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. initiated coverage on Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target for the company. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price target (up from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $68.36.

In other news, CEO Jeffrey C. Sprecher sold 73,374 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $59.91, for a total transaction of $4,395,836.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charles A. Vice sold 12,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $66.93, for a total value of $836,625.00. Following the sale, the insider now directly owns 382,471 shares in the company, valued at approximately $25,598,784.03. The disclosure for this sale can be found here. In the last three months, insiders sold 157,024 shares of company stock worth $9,732,522. 1.50% of the stock is owned by corporate insiders.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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