Ironwood Investment Counsel LLC Invests $525,000 in Intercontinental Exchange Inc. $ICE

Ironwood Investment Counsel LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,862 shares of the financial services provider’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Brighton Jones LLC increased its stake in shares of Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares in the last quarter. CWM LLC grew its holdings in Intercontinental Exchange by 3.7% during the first quarter. CWM LLC now owns 15,962 shares of the financial services provider’s stock valued at $2,753,000 after purchasing an additional 563 shares during the period. Bleakley Financial Group LLC grew its holdings in Intercontinental Exchange by 7.4% during the first quarter. Bleakley Financial Group LLC now owns 10,568 shares of the financial services provider’s stock valued at $1,823,000 after purchasing an additional 725 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 4.9% in the first quarter. Apollon Wealth Management LLC now owns 18,914 shares of the financial services provider’s stock worth $3,263,000 after buying an additional 878 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Intercontinental Exchange in the first quarter worth about $455,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $154.00 on Thursday. The company has a market cap of $87.81 billion, a P/E ratio of 29.56, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $161.05 and its two-hundred day moving average is $172.89.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 earnings per share. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 10,082 shares of the business’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 sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% 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, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the transaction, the chief operating officer directly owned 16,624 shares of the company’s stock, valued at $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,587 shares of company stock worth $3,989,936. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. UBS Group reduced their price objective 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. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. 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. Finally, Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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.