NewEdge Advisors LLC Raises Stock Position in Intercontinental Exchange Inc. $ICE

NewEdge Advisors LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 41.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 39,775 shares of the financial services provider’s stock after acquiring an additional 11,624 shares during the period. NewEdge Advisors LLC’s holdings in Intercontinental Exchange were worth $6,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 valued at $8,770,647,000 after acquiring an additional 413,639 shares during the last quarter. J. Stern & Co. LLP lifted its stake in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. State Street Corp grew its holdings in Intercontinental Exchange by 3.4% during the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after acquiring an additional 837,208 shares in the last quarter. Morgan Stanley lifted its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $1,418,228,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares in the company, valued at approximately $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 20,725 shares of company stock valued at $3,133,148 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 0.1%

Shares of NYSE:ICE opened at $150.48 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $84.48 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.48 and a beta of 0.92. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $187.09. The company has a 50 day moving average price of $139.62 and a 200 day moving average price of $152.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. Barclays reaffirmed an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Finally, Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.