Intech Investment Management LLC Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Intech Investment Management LLC boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,527 shares of the financial services provider’s stock after acquiring an additional 189 shares during the period. Intech Investment Management LLC’s holdings in Intercontinental Exchange were worth $2,125,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC increased its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Barclays raised their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $158.08.

Intercontinental Exchange Price Performance

ICE stock opened at $159.96 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The stock’s fifty day simple moving average is $156.07 and its 200-day simple moving average is $142.95. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $91.75 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping 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 business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $1.43 EPS. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares in the company, valued at approximately $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The disclosure for this sale can be found here. Insiders have sold a total of 68,166 shares of company stock worth $9,768,190 in the last three months. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Company 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.