Brooklyn Investment Group Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Brooklyn Investment Group grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,120 shares of the financial services provider’s stock after acquiring an additional 213 shares during the quarter. Brooklyn Investment Group’s holdings in Intercontinental Exchange were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $26,000. Financial Management Professionals Inc. grew its holdings in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the 2nd quarter valued at $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

ICE stock opened at $159.60 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The company has a market cap of $91.64 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The stock’s fifty day moving average price is $160.59 and its 200-day moving average price is $151.34.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,868 shares of company stock valued at $622,079. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ICE. Barclays lowered their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.