Kingsview Wealth Management LLC Invests $1.31 Million in Intercontinental Exchange Inc. $ICE

Kingsview Wealth Management LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,678 shares of the financial services provider’s stock, valued at approximately $1,315,000.

A number of other institutional investors also recently added to or reduced their stakes in ICE. PNC Financial Services Group Inc. lifted its position in Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after acquiring an additional 10,742 shares during the last quarter. BlackRock Inc. purchased a new position in Intercontinental Exchange in the second quarter worth $6,245,085,000. USS Investment Management Ltd increased its position in shares of Intercontinental Exchange by 37.2% during the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. increased its position in shares of Intercontinental Exchange by 13.8% during the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares in the last quarter. Finally, Nicholas Company Inc. lifted its holdings in shares of Intercontinental Exchange by 10.1% during the 4th quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after purchasing an additional 40,240 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 1,340 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the transaction, the director directly owned 3,747 shares of the company’s stock, valued at $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the completion of the transaction, the senior vice president owned 17,463 shares in the company, valued at $2,794,080. This represents a 8.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,141 shares of company stock valued at $3,554,192 in the last quarter. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ICE shares. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Barclays reaffirmed an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $162.46 on Friday. The business’s 50 day moving average price is $144.90 and its 200-day moving average price is $151.50. The firm has a market capitalization of $91.20 billion, a PE ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $177.76.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.