Cetera Investment Advisers Purchases 11,456 Shares of Intercontinental Exchange Inc. $ICE

Cetera Investment Advisers boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,015 shares of the financial services provider’s stock after acquiring an additional 11,456 shares during the period. Cetera Investment Advisers’ holdings in Intercontinental Exchange were worth $21,235,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ICE. J. Stern & Co. LLP grew its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange in the fourth quarter worth $1,418,228,000. Viking Global Investors LP bought a new stake in Intercontinental Exchange in the fourth quarter valued at $777,926,000. Boston Partners boosted its holdings in Intercontinental Exchange by 148.6% in the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock valued at $519,701,000 after acquiring an additional 1,914,851 shares in the last quarter. Finally, Focus Partners Wealth increased its position in Intercontinental Exchange by 569.8% during the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock valued at $358,142,000 after purchasing an additional 1,880,835 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock valued at $2,046,324 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $148.48 on Tuesday. The stock has a 50-day moving average price of $139.35 and a 200-day moving average price of $153.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $83.96 billion, a PE ratio of 21.61, a P/E/G ratio of 1.51 and a beta of 0.94. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research note on Monday, July 6th. The Goldman Sachs Group lowered their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Barclays cut their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.58.

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.