1832 Asset Management L.P. Buys 739,670 Shares of Intercontinental Exchange Inc. $ICE

1832 Asset Management L.P. boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6,522.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 751,010 shares of the financial services provider’s stock after buying an additional 739,670 shares during the quarter. 1832 Asset Management L.P.’s holdings in Intercontinental Exchange were worth $137,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange during the 2nd quarter valued at about $28,000. Activest Wealth Management boosted its position in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $29,000. McClarren Financial Advisors Inc. bought a new position in shares of Intercontinental Exchange during the first quarter valued at approximately $30,000. Finally, Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.0%

NYSE ICE opened at $155.33 on Wednesday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a 50 day moving average price of $155.98 and a 200 day moving average price of $171.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $88.56 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm earned $1.55 earnings per share. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 1,572 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the sale, the chief financial officer owned 20,534 shares in the company, valued at approximately $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the transaction, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This trade represents a 7.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 170,944 shares of company stock worth $26,338,174. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ICE. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. TD Cowen reduced their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a report on Monday, October 13th. Finally, Morgan Stanley dropped their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $194.70.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.