Phillips Wealth Planners LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,123 shares of the financial services provider’s stock, valued at approximately $563,000.
Several other hedge funds have also bought and sold shares of ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Brooklands Fund Management Ltd purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Lloyd Advisory Services LLC. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $30,000. Finally, Clearstead Trust LLC purchased a new position in Intercontinental Exchange in the second quarter worth $37,000. 89.30% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on ICE. TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, UBS Group restated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.
Insider Transactions at Intercontinental Exchange
In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at approximately $10,279,785.60. The trade was a 5.91% 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 have sold 18,376 shares of company stock valued at $2,746,946. 0.84% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Price Performance
Shares of NYSE:ICE opened at $154.62 on Tuesday. The stock has a market cap of $86.80 billion, a PE ratio of 21.84, a PEG ratio of 1.52 and a beta of 0.92. The company’s fifty day moving average is $140.90 and its 200 day moving average is $151.97. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $181.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. 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 firm posted $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.
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.
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