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

1832 Asset Management L.P. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 6,522.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 751,010 shares of the financial services provider’s stock after acquiring an additional 739,670 shares during the quarter. 1832 Asset Management L.P. owned 0.13% of Intercontinental Exchange worth $137,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ICE. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $28,000. Activest Wealth Management boosted its stake in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter worth $29,000. McClarren Financial Advisors Inc. bought a new stake in shares of Intercontinental Exchange in the first quarter worth $30,000. Finally, Hilltop National Bank purchased a new stake in Intercontinental Exchange during the second quarter valued at $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 1.0%

Shares of ICE stock opened at $155.33 on Wednesday. The company’s fifty day simple moving average is $155.98 and its two-hundred day simple moving average is $171.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a market cap of $88.56 billion, a P/E ratio of 29.81, a PEG ratio of 2.11 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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 return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 170,944 shares of company stock worth $26,338,174. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. UBS Group dropped their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Profile

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.