First Trust Bank Ltd. Makes New $843,000 Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

First Trust Bank Ltd. purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,566 shares of the financial services provider’s stock, valued at approximately $843,000. Intercontinental Exchange accounts for approximately 1.2% of First Trust Bank Ltd.’s portfolio, making the stock its 24th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Fortitude Family Office LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the fourth quarter worth about $28,000. Altshuler Shaham Ltd bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Sachetta LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $0.94 during trading hours on Friday, hitting $136.34. The company’s stock had a trading volume of 912,960 shares, compared to its average volume of 2,318,573. The stock has a fifty day simple moving average of $134.24 and a 200-day simple moving average of $128.49. The company has a market capitalization of $78.20 billion, a P/E ratio of 31.06, a PEG ratio of 2.55 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction on Monday, March 4th. The shares were bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold a total of 61,467 shares of company stock valued at $8,433,168 over the last 90 days. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. UBS Group raised their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Citigroup raised their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $148.29.

Intercontinental Exchange Company Profile

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.