New Century Financial Group LLC Acquires Shares of 1,621 Intercontinental Exchange, Inc. (NYSE:ICE)

New Century Financial Group LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,621 shares of the financial services provider’s stock, valued at approximately $223,000.

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

Analysts Set New Price Targets

A number of research firms have commented on ICE. Argus reissued a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Bank of America cut their price target on shares of 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 decreased their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $151.29.

Intercontinental Exchange Trading Up 0.2 %

Shares of Intercontinental Exchange stock opened at $141.16 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $141.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $80.97 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The firm has a fifty day moving average price of $135.15 and a 200 day moving average price of $133.23.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business posted $1.41 EPS. The company’s revenue was up 20.8% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was acquired at an average price of $0.87 per share, with a total value of $305,265.60. Following the completion of the transaction, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 4,506 shares of company stock valued at $609,374. 1.10% of the stock is owned by company insiders.

About Intercontinental Exchange

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.