Founders Financial Securities LLC Acquires New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Founders Financial Securities LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,526 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after buying an additional 1,012,034 shares in the last quarter. Wellington Management Group LLP increased its stake in Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. Capital World Investors increased its stake in Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares during the period. Finally, Norges Bank purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $839,259,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Argus reaffirmed a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Citigroup boosted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Bank of America reduced their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.29.

Intercontinental Exchange Trading Down 0.4 %

Intercontinental Exchange stock opened at $136.89 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $134.52 and its two-hundred day simple moving average is $132.90. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $140.43. The company has a market capitalization of $78.52 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the transaction, the insider now owns 649,934 shares in the company, valued at $565,442.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,894 shares of company stock valued at $8,620,792. 1.10% of the stock is currently owned by corporate insiders.

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.