10,893 Shares in Intercontinental Exchange Inc. $ICE Purchased by BG Investment Services LLC

Key Points

• BG Investment Services LLC purchased 10,893 Intercontinental Exchange shares worth approximately $1.66 million, while institutional investors collectively own 89.3% of ICE.
• ICE reported quarterly earnings of $1.90 per share, exceeding estimates of $1.84, with revenue of $3.61 billion and year-over-year growth of 4.8%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $186.31, although insiders sold more than 41,000 shares valued at $6.47 million over the past 90 days.

BG Investment Services LLC purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,893 shares of the financial services provider's stock, valued at approximately $1,656,000.

Other institutional investors and hedge funds have also modified their holdings of the company. James T. Borello RIA increased its stake in Intercontinental Exchange by 143.0% in the 3rd quarter. James T. Borello RIA now owns 209 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 123 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange during the second quarter worth $26,000. Gables Capital Management Inc. acquired a new position in Intercontinental Exchange during the second quarter worth $31,000. Cornerstone Planning Group LLC raised its holdings in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock worth $42,000 after purchasing an additional 68 shares during the last quarter. Finally, Burkett Financial Services LLC purchased a new stake in Intercontinental Exchange during the third quarter worth $41,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.7%

Shares of ICE opened at $162.73 on Friday. The company has a market capitalization of $91.36 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. The stock has a fifty day moving average of $157.26 and a two-hundred day moving average of $150.89. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange's revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.81 earnings per share. As a group, analysts forecast that Intercontinental Exchange Inc. will post 8.20 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Weiss Ratings raised Intercontinental Exchange from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Barclays reiterated an "overweight" rating and issued a $189.00 price objective (up from $182.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. Argus lowered their price objective on shares of Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Finally, Wells Fargo & Company reissued an "underweight" rating and issued a $160.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $186.31.

Insider Buying and Selling

In related news, insider Christopher Edmonds sold 5,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider directly owned 14,367 shares in the company, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction on Monday, September 14th. The shares were sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president owned 15,863 shares of the company's stock, valued at $2,538,080. This trade represents a 9.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 41,179 shares of company stock valued at $6,473,715. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc NYSE: ICE is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.

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