Family Manage LLC Makes New $3.33 Million Investment in Intercontinental Exchange Inc. $ICE

Family Manage LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 21,190 shares of the financial services provider’s stock, valued at approximately $3,333,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. PNC Financial Services Group Inc. increased its holdings in 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 worth $31,041,000 after acquiring an additional 10,742 shares in the last quarter. USS Investment Management Ltd raised its position in Intercontinental Exchange by 37.2% during 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 during the period. Walter Public Investments Inc. lifted its holdings in Intercontinental Exchange by 13.8% during 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 purchasing an additional 15,129 shares in the last quarter. OFI Invest Asset Management lifted its holdings in Intercontinental Exchange by 51,986.3% during the fourth quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock valued at $64,872,000 after purchasing an additional 399,775 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 413,639 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Barclays decreased their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley lowered their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group cut their price objective on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, TD Cowen reduced their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $181.58.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $145.93 on Monday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The firm has a market capitalization 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 fifty day simple moving average of $139.50 and a 200-day simple moving average of $154.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,425 shares of company stock worth $2,046,324 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

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.