Intercontinental Exchange Inc. $ICE Shares Acquired by Western Wealth Management LLC

Western Wealth Management LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 275.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,952 shares of the financial services provider’s stock after purchasing an additional 6,565 shares during the quarter. Western Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,408,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ICE. PNC Financial Services Group Inc. boosted its holdings in shares of Intercontinental Exchange by 5.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares in the last quarter. USS Investment Management Ltd raised its stake in Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its position in Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares during the last quarter. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the last quarter. Finally, Nicholas Company Inc. boosted its stake in Intercontinental Exchange by 10.1% in the fourth quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock valued at $70,802,000 after acquiring an additional 40,240 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $151.33 on Thursday. The stock has a market capitalization of $84.96 billion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. The company has a fifty day moving average of $140.05 and a 200-day moving average of $152.37. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $183.65.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) 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 firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company posted $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,454 shares of company stock worth $2,469,349. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on ICE shares. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Barclays reissued an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. TD Cowen reaffirmed a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. UBS Group reiterated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.