Folger Nolan Fleming Douglas Capital Management Inc. Invests $10.17 Million in Intercontinental Exchange Inc. $ICE

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 64,678 shares of the financial services provider’s stock, valued at approximately $10,173,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Intercontinental Exchange by 5.9% during 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 purchasing an additional 10,742 shares in the last quarter. Walter Public Investments Inc. lifted its stake in Intercontinental Exchange by 13.8% in the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after buying an additional 15,129 shares in the last quarter. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after buying an additional 413,639 shares during the last quarter. Cyndeo Wealth Partners LLC grew its holdings in Intercontinental Exchange by 857.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 11,655 shares of the financial services provider’s stock valued at $1,888,000 after buying an additional 10,438 shares during the last quarter. Finally, OFI Invest Asset Management increased its position 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 worth $64,872,000 after buying an additional 399,775 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Morgan Stanley lifted their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Barclays reissued an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

Intercontinental Exchange Stock Down 0.9%

Shares of NYSE:ICE opened at $122.76 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $69.42 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.16 and a beta of 0.92. The stock’s 50-day moving average price is $147.11 and its two-hundred day moving average price is $157.36. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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 company had revenue of $3.67 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $1.72 EPS. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

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.