Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.3% in the second quarter, HoldingsChannel.com reports. The firm owned 50,985 shares of the financial services provider’s stock after purchasing an additional 150 shares during the quarter. Intercontinental Exchange comprises approximately 3.0% of Long Road Investment Counsel LLC’s investment portfolio, making the stock its 10th biggest holding. Long Road Investment Counsel LLC’s holdings in Intercontinental Exchange were worth $6,979,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its position in Intercontinental Exchange by 5.0% in the second quarter. ProShare Advisors LLC now owns 116,480 shares of the financial services provider’s stock worth $15,945,000 after purchasing an additional 5,564 shares during the period. Transatlantique Private Wealth LLC lifted its position in shares of Intercontinental Exchange by 5.7% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 7,028 shares of the financial services provider’s stock valued at $945,000 after acquiring an additional 382 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Intercontinental Exchange by 7.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,638,287 shares of the financial services provider’s stock valued at $224,265,000 after acquiring an additional 109,795 shares during the last quarter. Sei Investments Co. lifted its position in shares of Intercontinental Exchange by 14.3% during the 2nd quarter. Sei Investments Co. now owns 398,803 shares of the financial services provider’s stock valued at $54,592,000 after acquiring an additional 49,933 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Intercontinental Exchange by 2.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 113,815 shares of the financial services provider’s stock valued at $15,580,000 after acquiring an additional 3,000 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ICE shares. Citigroup increased their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Barclays increased their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.08.

Intercontinental Exchange Trading Up 0.6 %

NYSE ICE opened at $159.84 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $91.68 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The firm’s fifty day simple moving average is $155.82 and its 200-day simple moving average is $142.77.

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

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,166 shares of company stock valued at $9,768,190. 1.10% of the stock is owned by 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.