Stance Capital LLC Invests $1.34 Million in Intercontinental Exchange Inc. $ICE

Stance Capital LLC bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 7,281 shares of the financial services provider’s stock, valued at approximately $1,336,000.

Several other hedge funds have also bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the second quarter valued at about $28,000. Activest Wealth Management boosted its stake in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at approximately $29,000. Hilltop National Bank bought a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $31,000. Finally, Knuff & Co LLC raised its holdings in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

NYSE:ICE opened at $163.21 on Friday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a market cap of $93.06 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.53 and a beta of 1.05. The stock has a fifty day simple moving average of $154.98 and a 200-day simple moving average of $170.16. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $152.52, for a total value of $269,960.40. Following the completion of the sale, the general counsel owned 44,212 shares in the company, valued at approximately $6,743,214.24. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 1,572 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares in the company, valued at approximately $3,155,049.10. This trade represents a 7.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 175,489 shares of company stock valued at $26,972,956. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of recent research reports. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. UBS Group lowered their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, Morgan Stanley lowered their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.