12,000 Shares in Intercontinental Exchange Inc. $ICE Purchased by Ally Financial Inc.

Key Points

• Ally Financial purchased 12,000 shares of Intercontinental Exchange during the second quarter, valued at approximately $1.48 million. Other institutions also initiated positions, and institutional investors own 89.3% of ICE.
• Analysts maintain a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $183.33. Recent targets range from $177 to $208.
• ICE reported quarterly earnings of $1.90 per share, exceeding estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. The stock opened at $161.29, and insiders have sold about $3.04 million of shares over the past 90 days.

Ally Financial Inc. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,000 shares of the financial services provider's stock, valued at approximately $1,477,000.

Several other large investors have also recently added to or reduced their stakes in ICE. TCM Advisors LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at $475,000. Cibc World Market Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter valued at $1,355,000. OMERS ADMINISTRATION Corp bought a new position in shares of Intercontinental Exchange in the second quarter valued at about $5,274,000. Osmosis Investment Management UK Ltd acquired a new position in Intercontinental Exchange during the 2nd quarter worth about $2,275,000. Finally, Sanctuary Advisors LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $7,777,000. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group dropped their price objective on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $183.33.

Intercontinental Exchange Stock Up 0.0%

Shares of NYSE ICE opened at $161.29 on Monday. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The firm's 50-day moving average is $142.34 and its 200-day moving average is $151.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. Intercontinental Exchange's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 7,300 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 20,200 shares of company stock worth $3,035,385. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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