Leonard Rickey Investment Advisors P.L.L.C. Acquires New Shares in Intercontinental Exchange Inc. $ICE

Leonard Rickey Investment Advisors P.L.L.C. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, HoldingsChannel reports. The fund acquired 3,782 shares of the financial services provider’s stock, valued at approximately $466,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. State Street Corp boosted its stake in shares of Intercontinental Exchange by 3.4% during the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after purchasing an additional 837,208 shares in the last quarter. Morgan Stanley boosted its stake in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after purchasing an additional 158,450 shares in the last quarter. Finally, Norges Bank purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $1,418,228,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. The Goldman Sachs Group reduced their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

Shares of ICE opened at $155.34 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $140.32 and its 200-day moving average price is $152.25. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $183.13. The firm has a market capitalization of $87.21 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated 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 directly owned 20,132 shares in the company, valued at $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 16,454 shares of company stock valued at $2,469,349. 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.