Munro Partners Acquires Shares of 287,765 Intercontinental Exchange Inc. $ICE

Munro Partners bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 287,765 shares of the financial services provider’s stock, valued at approximately $52,796,000. Intercontinental Exchange makes up 1.7% of Munro Partners’ investment portfolio, making the stock its 29th largest position.

Other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the 2nd quarter worth approximately $28,000. Activest Wealth Management raised its stake 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 valued at $29,000 after purchasing an additional 162 shares during the period. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $29,000. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the second quarter worth $31,000. Finally, Knuff & Co LLC grew its holdings 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 valued at $32,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.1%

Shares of NYSE ICE opened at $163.21 on Friday. The business has a 50 day simple moving average of $154.98 and a 200 day simple moving average of $170.16. 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 $93.06 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 3,700 shares of Intercontinental Exchange stock in a transaction on Friday, December 5th. The shares were sold at an average price of $157.96, for a total value of $584,452.00. Following the completion of the sale, the director owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,345 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,489 shares of company stock worth $26,972,956 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Morgan Stanley dropped their target price on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group dropped their price objective 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, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus 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.