Hyperion Capital Advisors LP Sells 16,560 Shares of Intercontinental Exchange Inc. $ICE

Hyperion Capital Advisors LP reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 17.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 78,323 shares of the financial services provider’s stock after selling 16,560 shares during the quarter. Intercontinental Exchange comprises 9.0% of Hyperion Capital Advisors LP’s portfolio, making the stock its 2nd biggest holding. Hyperion Capital Advisors LP’s holdings in Intercontinental Exchange were worth $14,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in ICE. Princeton Global Asset Management LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Activest Wealth Management boosted its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $29,000. Hilltop National Bank bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $31,000. Finally, Knuff & Co LLC lifted its stake in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, UBS Group decreased their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $194.70.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer owned 20,534 shares of the company’s stock, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total value of $269,960.40. Following the completion of the transaction, the general counsel owned 44,212 shares of the company’s stock, valued at $6,743,214.24. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 175,489 shares of company stock worth $26,972,956. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $163.21 on Friday. The company’s fifty day moving average is $154.98 and its two-hundred day moving average is $170.22. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $93.06 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.53 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 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.