Americana Partners LLC Buys Shares of 2,948 Intercontinental Exchange Inc. $ICE

Americana Partners LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,948 shares of the financial services provider’s stock, valued at approximately $497,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Intercontinental Exchange during the second quarter worth $1,542,780,000. Sands Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 97.3% during the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. C WorldWide Group Holding A S increased its holdings in shares of Intercontinental Exchange by 29,199.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock valued at $303,129,000 after acquiring an additional 1,646,562 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Intercontinental Exchange by 55.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock valued at $510,330,000 after acquiring an additional 994,316 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Intercontinental Exchange by 503.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider’s stock valued at $191,038,000 after acquiring an additional 946,065 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent analyst reports. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. 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 stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $193.50.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the transaction, the chief financial officer owned 20,534 shares in the company, valued at $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 166,068 shares of company stock valued at $25,470,702 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $171.89 on Thursday. The business has a fifty day simple moving average of $161.04 and a 200 day simple moving average of $167.25. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $98.01 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 2.08 and a beta of 1.03. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35.

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