Great Lakes Advisors LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Great Lakes Advisors LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 862,361 shares of the financial services provider’s stock, valued at approximately $106,166,000. Great Lakes Advisors LLC owned approximately 0.15% of Intercontinental Exchange as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $30,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,376 shares of company stock worth $2,746,946. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.3%

Intercontinental Exchange stock opened at $156.30 on Wednesday. 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 Inc. has a 52 week low of $121.79 and a 52 week high of $181.72. The company has a market capitalization of $87.75 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. The stock has a 50-day moving average price of $141.20 and a 200 day moving average price of $151.86.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Analyst Ratings Changes

ICE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group reiterated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating and issued a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, The Goldman Sachs Group dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $183.33.

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.