NTV Asset Management LLC Purchases New Holdings in Intercontinental Exchange Inc. $ICE

NTV Asset Management LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,578 shares of the financial services provider’s stock, valued at approximately $1,000,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. James T. Borello RIA boosted its holdings in Intercontinental Exchange by 143.0% during the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 123 shares during the period. Rakuten Securities Inc. purchased a new stake in Intercontinental Exchange in the second quarter worth $26,000. Gables Capital Management Inc. purchased a new stake in Intercontinental Exchange in the second quarter worth $31,000. Cornerstone Planning Group LLC increased its stake in Intercontinental Exchange by 33.5% in the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 68 shares during the period. Finally, Burkett Financial Services LLC bought a new stake in shares of Intercontinental Exchange during the third quarter worth $41,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Down 0.0%

Shares of NYSE:ICE opened at $162.73 on Monday. The business’s 50 day moving average is $157.26 and its 200 day moving average is $150.78. The stock has a market cap of $91.36 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05. 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 issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.20 EPS for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the transaction, the president owned 164,264 shares in the company, valued at approximately $26,297,023.76. This represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 41,179 shares of company stock worth $6,473,715. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICE. Jefferies Financial Group decreased their target price on Intercontinental Exchange from $189.00 to $185.00 in a research report on Wednesday, October 7th. UBS Group restated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial cut their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Rothschild & Co Redburn lifted their price objective on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $186.31.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.