Intercontinental Exchange Inc. $ICE Shares Acquired by Delta Global Management LP

Delta Global Management LP increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 48.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,500 shares of the financial services provider’s stock after purchasing an additional 105,661 shares during the quarter. Intercontinental Exchange makes up 4.2% of Delta Global Management LP’s investment portfolio, making the stock its 3rd largest holding. Delta Global Management LP owned about 0.06% of Intercontinental Exchange worth $51,195,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. ICONIQ Capital LLC increased its position in shares of Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 60 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 62 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Intercontinental Exchange by 1.9% in the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. Morgan Stanley cut their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. UBS Group lowered their price target on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. Finally, The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. One 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Stock Up 1.9%

ICE stock opened at $145.93 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $82.53 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94. The company has a 50 day moving average of $139.50 and a two-hundred day moving average of $154.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the business posted $1.72 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on 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 owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

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.