Folger Nolan Fleming Douglas Capital Management Inc. Takes Position in Intercontinental Exchange Inc. $ICE

Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, Holdings Channel reports. The firm bought 64,678 shares of the financial services provider’s stock, valued at approximately $10,173,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Steph & Co. grew its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares during the period. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Finally, Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at approximately $10,081,939.98. The trade was a 6.18% 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 13,425 shares of company stock worth $2,046,324 over the last three months. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Down 0.9%

ICE opened at $122.76 on Tuesday. The firm has a market capitalization of $69.42 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.16 and a beta of 0.92. The firm’s 50 day moving average is $147.11 and its 200-day moving average is $157.36. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Analysts expect that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. UBS Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. TD Cowen lowered their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Barclays restated an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.36.

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.