3,855 Shares in Intercontinental Exchange Inc. $ICE Purchased by TCM Advisors LLC

TCM Advisors LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,855 shares of the financial services provider’s stock, valued at approximately $475,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ICE. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange in the fourth quarter valued at $28,000. Swiss RE Ltd. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $30,000. Finally, Rakuten Securities Inc. bought a new position in shares of Intercontinental Exchange during the second quarter worth about $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the topic of several recent research reports. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research report on Monday, July 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group cut their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Trading Up 0.0%

Shares of NYSE:ICE opened at $161.29 on Monday. The company has a 50 day moving average of $142.34 and a 200-day moving average of $151.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65.

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

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $156.30, for a total value of $389,343.30. Following the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company’s stock, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,200 shares of company stock worth $3,035,385 in the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company 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.