Fisher Asset Management LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Fisher Asset Management LLC bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,465 shares of the financial services provider’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. Northwest Bank & Trust Co bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,204,000. Creekmur Asset Management LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $37,000. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $96,000. Finally, Syon Capital LLC increased its stake in shares of Intercontinental Exchange by 9.1% during the fourth quarter. Syon Capital LLC now owns 5,859 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.6 %

Shares of Intercontinental Exchange stock opened at $138.72 on Tuesday. The company’s fifty day simple moving average is $133.99 and its 200-day simple moving average is $132.34. The stock has a market capitalization of $79.57 billion, a PE ratio of 31.82, a P/E/G ratio of 2.55 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.43. 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 (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company’s revenue was up 20.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ICE shares. Keefe, Bruyette & Woods cut their price target 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. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Bank of America cut their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Barclays cut their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.29.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now directly owns 29,347 shares in the company, valued at approximately $4,031,103.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now directly owns 29,347 shares in the company, valued at approximately $4,031,103.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold 63,234 shares of company stock worth $8,668,823 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange 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.