Intercontinental Exchange Inc (ICE) Position Boosted by First Manhattan Co.

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First Manhattan Co. boosted its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,358 shares of the financial services provider’s stock after acquiring an additional 2,975 shares during the period. First Manhattan Co.’s holdings in Intercontinental Exchange were worth $19,048,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ICE. Mariner LLC purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $238,000. Hilltop Holdings Inc. purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $248,000. Private Capital Group LLC grew its stake in Intercontinental Exchange by 994.7% during the first quarter. Private Capital Group LLC now owns 2,047 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 1,860 shares in the last quarter. Trust Co. of Vermont grew its stake in Intercontinental Exchange by 17.0% during the first quarter. Trust Co. of Vermont now owns 21,667 shares of the financial services provider’s stock valued at $1,571,000 after acquiring an additional 3,141 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in Intercontinental Exchange by 4.9% during the first quarter. Xact Kapitalforvaltning AB now owns 105,601 shares of the financial services provider’s stock valued at $7,658,000 after acquiring an additional 4,963 shares in the last quarter. 88.52% of the stock is owned by institutional investors.

In other news, CFO Scott A. Hill sold 70,659 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $76.56, for a total value of $5,409,653.04. Following the completion of the sale, the chief financial officer now owns 231,782 shares of the company’s stock, valued at approximately $17,745,229.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 2,860 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $77.88, for a total transaction of $222,736.80. The disclosure for this sale can be found here. Insiders sold a total of 288,819 shares of company stock valued at $21,703,215 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

ICE has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $91.00 price objective on shares of Intercontinental Exchange in a research note on Friday, October 12th. They noted that the move was a valuation call. Compass Point started coverage on shares of Intercontinental Exchange in a research note on Friday, June 22nd. They issued a “buy” rating and a $85.00 price target for the company. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Berenberg Bank set a $92.00 price target on shares of Intercontinental Exchange and gave the stock a “buy” rating in a research note on Thursday, September 20th. Finally, ValuEngine raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Intercontinental Exchange has a consensus rating of “Buy” and a consensus price target of $83.29.

ICE stock opened at $74.93 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. Intercontinental Exchange Inc has a one year low of $64.91 and a one year high of $78.48. The company has a market capitalization of $42.94 billion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 2.18 and a beta of 0.65.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.01. Intercontinental Exchange had a net margin of 41.83% and a return on equity of 11.45%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange Inc will post 3.48 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Further Reading: Diversification

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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