Stance Capital LLC Acquires Shares of 7,281 Intercontinental Exchange Inc. $ICE

Stance Capital LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,281 shares of the financial services provider’s stock, valued at approximately $1,336,000.

A number of other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the second quarter worth about $28,000. Activest Wealth Management lifted its position in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 162 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at $29,000. Hilltop National Bank purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at $31,000. Finally, Knuff & Co LLC increased its holdings in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several recent analyst reports. TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial upgraded shares of 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. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $194.70.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $163.21 on Friday. The stock has a market cap of $93.06 billion, a P/E ratio of 29.73, a P/E/G 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. The stock’s fifty day moving average is $154.98 and its 200 day moving average is $170.16. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

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

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,221,150.80. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares in the company, valued at $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,489 shares of company stock worth $26,972,956 in the last 90 days. Insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.