Twin City Private Wealth LLC Makes New $726,000 Investment in Intercontinental Exchange Inc. $ICE

Twin City Private Wealth LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,613 shares of the financial services provider’s stock, valued at approximately $726,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. J. Stern & Co. LLP increased its stake in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $1,418,228,000. Viking Global Investors LP acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $777,926,000. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the last quarter. Finally, Boston Partners raised its holdings in Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock valued at $519,701,000 after buying an additional 1,914,851 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 3.1%

ICE stock opened at $126.98 on Thursday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company has a fifty day moving average of $145.67 and a 200-day moving average of $156.84. The stock has a market capitalization of $71.81 billion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.15 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 (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.37 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICE. Barclays reissued an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, 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 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $188.58.

Insider Activity

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the 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 sale, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Insiders own 0.84% of the company’s stock.

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.