Engineers Gate Manager LP Has $16.84 Million Holdings in Intercontinental Exchange Inc. $ICE

Engineers Gate Manager LP boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 86.5% in the second quarter, Holdings Channel.com reports. The firm owned 136,793 shares of the financial services provider’s stock after acquiring an additional 63,456 shares during the period. Engineers Gate Manager LP’s holdings in Intercontinental Exchange were worth $16,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. California State Teachers Retirement System increased its stake in shares of Intercontinental Exchange by 11,968.7% during the 2nd quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock worth $13,342,784,000 after purchasing an additional 107,482,962 shares during the last quarter. J. Stern & Co. LLP grew its holdings in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. bought a new position in Intercontinental Exchange during the second quarter worth about $6,245,085,000. State Street Corp increased its position in Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Finally, Morgan Stanley increased its position in Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ICE. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. UBS Group reissued a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. TD Cowen reaffirmed 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, Barclays reiterated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.17.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $156.80 on Thursday. 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 capitalization of $88.02 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 1.53 and a beta of 0.93. The firm’s 50 day simple moving average is $150.17 and its 200 day simple moving average is $151.70. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $176.59.

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

Insider Buying and Selling

In other news, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total value of $2,059,077.58. Following the transaction, the president owned 164,264 shares in the company, valued at approximately $26,297,023.76. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total value of $739,935.98. Following the sale, the general counsel owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 40,912 shares of company stock worth $6,403,616. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.