Investment House LLC Grows Stake in Intercontinental Exchange Inc (ICE)

Investment House LLC lifted its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 177,461 shares of the financial services provider’s stock after buying an additional 800 shares during the period. Intercontinental Exchange accounts for about 1.4% of Investment House LLC’s investment portfolio, making the stock its 17th largest position. Investment House LLC’s holdings in Intercontinental Exchange were worth $13,290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baird Financial Group Inc. increased its stake in shares of Intercontinental Exchange by 11.2% during the second quarter. Baird Financial Group Inc. now owns 131,129 shares of the financial services provider’s stock worth $9,644,000 after purchasing an additional 13,229 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Intercontinental Exchange by 17.1% during the second quarter. OppenheimerFunds Inc. now owns 6,938,214 shares of the financial services provider’s stock worth $510,306,000 after purchasing an additional 1,011,626 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $17,795,000. Private Advisor Group LLC increased its stake in shares of Intercontinental Exchange by 377.2% during the second quarter. Private Advisor Group LLC now owns 17,762 shares of the financial services provider’s stock worth $1,308,000 after purchasing an additional 14,040 shares in the last quarter. Finally, Richard Bernstein Advisors LLC increased its stake in shares of Intercontinental Exchange by 5.1% during the second quarter. Richard Bernstein Advisors LLC now owns 57,890 shares of the financial services provider’s stock worth $4,258,000 after purchasing an additional 2,817 shares in the last quarter. 88.52% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently commented on the stock. Citigroup boosted their target price on shares of Intercontinental Exchange from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, September 19th. FIX initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, September 5th. They set a “buy” rating and a $88.00 target price for the company. Deutsche Bank boosted their price target on shares of Intercontinental Exchange from $82.00 to $83.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Finally, Barclays boosted their price target on shares of Intercontinental Exchange from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $82.27.

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 80,000 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $73.28, for a total value of $5,862,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David S. Goone sold 10,402 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $78.01, for a total transaction of $811,460.02. The disclosure for this sale can be found here. Insiders sold a total of 290,717 shares of company stock worth $21,841,659 over the last quarter. 1.50% of the stock is currently owned by company insiders.

ICE traded up $0.35 on Tuesday, reaching $75.73. 11,077 shares of the company’s stock were exchanged, compared to its average volume of 2,506,784. The firm has a market capitalization of $42.94 billion, a PE ratio of 25.62, a PEG ratio of 2.18 and a beta of 0.65. Intercontinental Exchange Inc has a twelve month low of $64.91 and a twelve month high of $78.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.24 billion. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. Intercontinental Exchange’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, analysts predict that Intercontinental Exchange Inc will post 3.48 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: How to Invest in Growth Stocks

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).

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

Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply