Flputnam Investment Management Co. Grows Holdings in Intercontinental Exchange Inc. $ICE

Flputnam Investment Management Co. lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 553.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,802 shares of the financial services provider’s stock after purchasing an additional 92,163 shares during the period. Flputnam Investment Management Co.’s holdings in Intercontinental Exchange were worth $13,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ICE. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $26,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Swiss RE Ltd. purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $30,000. Finally, Gables Capital Management Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Piper Sandler dropped their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. UBS Group reiterated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president owned 17,463 shares of the company’s stock, valued at $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,491 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer directly owned 22,698 shares of the company’s stock, valued at $3,547,697.40. The trade was a 9.89% 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 have sold 23,141 shares of company stock valued at $3,554,192. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $162.46 on Friday. The company has a market cap of $91.20 billion, a P/E ratio of 22.95, a PEG ratio of 1.58 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $177.76. The firm has a fifty day moving average price of $144.90 and a 200 day moving average price of $151.50.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm posted $1.81 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

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.