Walter Public Investments Inc. Has $18.51 Million Stake in Intercontinental Exchange Inc. $ICE

Walter Public Investments Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,864 shares of the financial services provider’s stock after selling 29,224 shares during the quarter. Intercontinental Exchange makes up approximately 3.0% of Walter Public Investments Inc.’s investment portfolio, making the stock its 16th largest position. Walter Public Investments Inc.’s holdings in Intercontinental Exchange were worth $18,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth $29,000. Hilltop National Bank bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $31,000. Knuff & Co LLC boosted its holdings in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares in the last quarter. Finally, Private Wealth Management Group LLC grew its position in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Barclays set a $182.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Thursday, January 8th. Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday. Morgan Stanley restated a “positive” rating and issued a $174.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $192.90.

Intercontinental Exchange Stock Up 3.7%

Intercontinental Exchange stock opened at $172.78 on Thursday. The firm has a market cap of $98.51 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.16 and a beta of 1.03. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $158.79 and a two-hundred day moving average price of $167.59.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company posted $1.55 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the sale, the director directly owned 14,469 shares in the company, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,345 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 166,068 shares of company stock worth $25,470,702. 1.00% of the stock is owned by 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.