Pine Valley Investments Ltd Liability Co Buys 2,604 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Pine Valley Investments Ltd Liability Co grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 19.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,904 shares of the financial services provider’s stock after acquiring an additional 2,604 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Intercontinental Exchange were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position 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 last quarter. D.A. Davidson & CO. raised its position in shares of Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after acquiring an additional 1,991 shares during the last quarter. Point72 Europe London LLP lifted its stake in shares of Intercontinental Exchange by 10.9% during the fourth quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after acquiring an additional 6,500 shares during the period. Perpetual Ltd boosted its holdings in Intercontinental Exchange by 0.4% in the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after acquiring an additional 6,272 shares during the last quarter. Finally, LGT Group Foundation increased its position in Intercontinental Exchange by 36.0% in the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after purchasing an additional 94,039 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,346 shares of company stock worth $9,472,911. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ICE. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays raised their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Trading Up 0.8 %

Shares of NYSE:ICE opened at $161.55 on Friday. The firm has a market cap of $92.75 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $161.97. The company’s fifty day simple moving average is $149.68 and its 200 day simple moving average is $140.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $1.43 EPS. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Intercontinental Exchange 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.