Inceptionr LLC Acquires New Stake in Intercontinental Exchange Inc. $ICE

Inceptionr LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 12,139 shares of the financial services provider’s stock, valued at approximately $1,909,000. Intercontinental Exchange accounts for approximately 0.5% of Inceptionr LLC’s portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. PNC Financial Services Group Inc. increased its stake in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after buying an additional 10,742 shares in the last quarter. USS Investment Management Ltd lifted its position in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of Intercontinental Exchange by 13.8% in the fourth quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares in the last quarter. OFI Invest Asset Management boosted its stake in shares of Intercontinental Exchange by 51,986.3% in the fourth quarter. OFI Invest Asset Management now owns 400,544 shares of the financial services provider’s stock worth $64,872,000 after acquiring an additional 399,775 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. The Goldman Sachs Group lowered their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. UBS Group dropped their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. Finally, Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated 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 directly owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $143.19 on Friday. The business’s 50 day moving average price is $139.67 and its 200 day moving average price is $154.14. The company has a market cap of $80.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Intercontinental Exchange 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.