Tealwood Asset Management Inc. Raises Stock Position in Intercontinental Exchange Inc. $ICE

Tealwood Asset Management Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 31.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,338 shares of the financial services provider’s stock after purchasing an additional 3,389 shares during the period. Tealwood Asset Management Inc.’s holdings in Intercontinental Exchange were worth $2,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Princeton Global Asset Management LLC acquired a new position in Intercontinental Exchange in the second quarter valued at $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $29,000. Activest Wealth Management boosted its position in shares of 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 purchasing an additional 162 shares during the period. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $31,000. Finally, Knuff & Co LLC grew its stake in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $163.53 on Friday. 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 has a market capitalization of $93.24 billion, a P/E ratio of 29.79, a P/E/G ratio of 2.31 and a beta of 1.05. The company’s fifty day moving average is $155.72 and its two-hundred day moving average is $168.98. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. The company 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 business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total value of $261,120.00. Following the sale, the senior vice president owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. The trade was a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 3,700 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the transaction, the director directly owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This trade represents a 20.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 176,150 shares of company stock worth $27,072,531 in the last three months. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen reduced their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note 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 report on Monday, October 13th. JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” 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. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $194.30.

About Intercontinental Exchange

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.