Intercontinental Exchange Inc. $ICE Position Boosted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3,273.2% during the second quarter, HoldingsChannel.com reports. The firm owned 397,297 shares of the financial services provider’s stock after buying an additional 385,519 shares during the period. Los Angeles Capital Management LLC’s holdings in Intercontinental Exchange were worth $72,892,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Optivise Advisory Services LLC increased its holdings in shares of Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 54 shares in the last quarter. Tritonpoint Wealth LLC grew its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after buying an additional 58 shares in the last quarter. RB Capital Management LLC grew its holdings in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC boosted its stake in Intercontinental Exchange by 0.8% during the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after buying an additional 60 shares during the period. Finally, Institute for Wealth Management LLC. boosted its position in shares of Intercontinental Exchange by 1.9% during the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 60 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.0%

NYSE:ICE opened at $148.93 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The firm has a market capitalization of $84.92 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The business’s 50-day moving average is $162.47 and its two-hundred day moving average is $173.02.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 EPS. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 240,162 shares of company stock worth $43,642,652. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several research analyst reports. TD Cowen cut their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.82.

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.