Oak Asset Management LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Oak Asset Management LLC trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,373 shares of the financial services provider’s stock after selling 268 shares during the quarter. Intercontinental Exchange comprises 1.5% of Oak Asset Management LLC’s holdings, making the stock its 18th largest position. Oak Asset Management LLC’s holdings in Intercontinental Exchange were worth $4,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Quintet Private Bank Europe S.A. raised its position in Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares during the period. Integrated Advisors Network LLC raised its holdings in shares of Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares during the last quarter. Catalyst Capital Advisors LLC lifted its position in Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares during the period. Finally, Catalina Capital Group LLC boosted its holdings in Intercontinental Exchange by 3.9% in the third quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,533 shares of company stock worth $1,196,279 over the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Morgan Stanley lifted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Barclays lowered their price objective on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday. TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $175.20.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $143.84 on Tuesday. The stock has a 50 day moving average of $153.88 and a two-hundred day moving average of $155.47. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The firm has a market cap of $82.59 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 2.57 and a beta of 1.10. 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 (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal 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.