Canoe Financial LP Buys New Position in Intercontinental Exchange Inc. $ICE

Canoe Financial LP bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 663,757 shares of the financial services provider’s stock, valued at approximately $111,830,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Optivise Advisory Services LLC lifted its stake in shares of Intercontinental Exchange by 3.1% during the second quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock valued at $329,000 after buying an additional 54 shares during the period. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Tritonpoint Wealth LLC lifted its stake in shares of Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 58 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 58 shares during the last quarter. Finally, RB Capital Management LLC grew its position in shares of Intercontinental Exchange by 1.3% in the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 59 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.4%

NYSE ICE opened at $162.63 on Friday. The firm has a market capitalization of $92.73 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company’s 50 day moving average price is $155.52 and its 200 day moving average price is $169.11.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,345 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the sale, the senior vice president owned 24,196 shares in the company, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 176,150 shares of company stock worth $27,072,531 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Tuesday. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a report on Monday, October 13th. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. TD Cowen dropped their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.30.

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.