Lombard Odier Asset Management Europe Ltd Invests $9.63 Million in Intercontinental Exchange Inc. $ICE

Lombard Odier Asset Management Europe Ltd purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 78,207 shares of the financial services provider’s stock, valued at approximately $9,628,000.

Several other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in shares of Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares during the period. BlackRock Inc. purchased a new position in Intercontinental Exchange in the second quarter worth $6,245,085,000. USS Investment Management Ltd raised its position in Intercontinental Exchange by 37.2% in the first 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 holdings 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 period. Finally, Nicholas Company Inc. boosted its position in shares of Intercontinental Exchange by 10.1% during the 4th quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock worth $70,802,000 after purchasing an additional 40,240 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ICE. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Morgan Stanley decreased their price target 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. UBS Group reiterated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. Finally, The Goldman Sachs Group decreased their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. 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 data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $162.46 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.76. The stock’s 50-day moving average is $144.90 and its 200-day moving average is $151.50. 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 has a market cap of $91.20 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.81 earnings per share. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 1,340 shares of the firm’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the sale, the director directly owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. The trade was a 26.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,141 shares of company stock worth $3,554,192 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.