Meriwether Wealth & Planning LLC acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,012 shares of the financial services provider’s stock, valued at approximately $494,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Brooklands Fund Management Ltd purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the 4th quarter worth about $28,000. Steph & Co. lifted its stake in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on ICE. The Goldman Sachs Group dropped their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Barclays reissued an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, July 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.33.
Intercontinental Exchange Price Performance
ICE stock opened at $149.77 on Friday. The business’s 50-day moving average is $139.47 and its two-hundred day moving average is $152.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $84.08 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.48 and a beta of 0.92. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the company posted $1.81 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock valued at $2,046,324 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Company Profile
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.
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