663,757 Shares in Intercontinental Exchange Inc. $ICE Bought by Canoe Financial LP

Canoe Financial LP acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 663,757 shares of the financial services provider’s stock, valued at approximately $111,830,000. Canoe Financial LP owned about 0.12% of Intercontinental Exchange as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth about $28,000. Activest Wealth Management lifted its position in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Westside Investment Management Inc. purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $29,000. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $31,000. Finally, Knuff & Co LLC raised its stake in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $162.63 on Friday. The stock’s 50 day simple moving average is $155.52 and its 200 day simple moving average is $169.11. The stock has a market cap of $92.73 billion, a P/E ratio of 29.62, a P/E/G ratio of 2.29 and a beta of 1.05. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted 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 return on equity of 13.79% and a net margin of 25.24%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the completion of the transaction, the director directly owned 14,469 shares of the company’s stock, valued at $2,285,523.24. This trade represents a 20.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares of the company’s stock, valued at $3,948,787.20. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 176,150 shares of company stock worth $27,072,531 in the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley reiterated a “positive” rating and issued a $174.00 price objective (up from $169.00) on shares of Intercontinental Exchange in a research report on Monday. UBS Group reduced their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note 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 on the stock in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $194.30.

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.