Oak Thistle LLC Makes New Investment in Intercontinental Exchange Inc. $ICE

Oak Thistle LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,911 shares of the financial services provider’s stock, valued at approximately $2,451,000.

Several other hedge funds have also recently modified their holdings of the stock. Webster Bank N. A. lifted its stake in Intercontinental Exchange by 8.6% in the 2nd quarter. Webster Bank N. A. now owns 25,318 shares of the financial services provider’s stock valued at $3,117,000 after buying an additional 1,996 shares in the last quarter. Altrafin AG boosted its holdings in Intercontinental Exchange by 5.5% in the 2nd quarter. Altrafin AG now owns 63,098 shares of the financial services provider’s stock worth $7,768,000 after buying an additional 3,270 shares during the last quarter. Merit Financial Group LLC increased its stake in Intercontinental Exchange by 2.0% during the 2nd quarter. Merit Financial Group LLC now owns 14,916 shares of the financial services provider’s stock worth $1,836,000 after buying an additional 290 shares in the last quarter. PFS Partners LLC increased its stake in Intercontinental Exchange by 154.5% during the 2nd quarter. PFS Partners LLC now owns 1,018 shares of the financial services provider’s stock worth $125,000 after buying an additional 618 shares in the last quarter. Finally, Koa Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 3.0% during the second quarter. Koa Wealth Management LLC now owns 14,853 shares of the financial services provider’s stock valued at $1,829,000 after acquiring an additional 434 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ICE. Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. UBS Group reissued a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group decreased their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. One equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Trading Up 0.1%

Shares of Intercontinental Exchange stock opened at $151.33 on Thursday. The stock has a market cap of $84.96 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.49 and a beta of 0.92. The stock’s 50 day simple moving average is $140.05 and its 200-day simple moving average is $152.37. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $183.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the company’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 completion of 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 16,454 shares of company stock worth $2,469,349. Corporate 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.