Flputnam Investment Management Co. Raises Stock Position in Intercontinental Exchange Inc. $ICE

Flputnam Investment Management Co. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 553.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,802 shares of the financial services provider’s stock after acquiring an additional 92,163 shares during the quarter. Flputnam Investment Management Co.’s holdings in Intercontinental Exchange were worth $13,395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the fourth quarter worth $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $30,000. Rakuten Securities Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $26,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Intercontinental Exchange during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price 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 cap of $91.20 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $177.76. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued 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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Insider Transactions at Intercontinental Exchange

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

About Intercontinental Exchange

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.