Frank Rimerman Advisors LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Frank Rimerman Advisors LLC grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 16,435.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,630 shares of the financial services provider’s stock after acquiring an additional 4,602 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Intercontinental Exchange were worth $634,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ICE. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 35.0% in the 4th 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. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. Capital World Investors boosted its position in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after acquiring an additional 2,530,119 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after acquiring an additional 1,790,493 shares during the last quarter. Finally, Parnassus Investments LLC grew its stake in Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after acquiring an additional 1,621,737 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the sale, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,166 shares of company stock valued at $9,768,190. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ICE. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price objective for the company from $143.00 to $167.00 in a research note on Monday, July 1st. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $158.08.

Intercontinental Exchange Stock Up 0.1 %

Shares of Intercontinental Exchange stock opened at $159.96 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a market capitalization of $91.75 billion, a PE ratio of 36.69, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day moving average of $156.07 and a 200-day moving average of $142.95.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the firm earned $1.43 EPS. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

About Intercontinental Exchange

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.