8,892 Intercontinental Exchange Inc. $ICE Shares Bought by Thor Investment Management Inc. OH ADV

Key Points

• Thor Investment Management increased its Intercontinental Exchange stake by 45.7% in the third quarter, acquiring 8,892 shares and bringing its holdings to 28,367 shares valued at approximately $4.3 million.
• Institutional investors own 89.3% of ICE, while analysts maintain a generally positive outlook with a consensus “Moderate Buy” rating and an average price target of $186.25.
• 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.

Thor Investment Management Inc. OH ADV increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 45.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,367 shares of the financial services provider's stock after acquiring an additional 8,892 shares during the period. Intercontinental Exchange comprises about 2.5% of Thor Investment Management Inc. OH ADV's portfolio, making the stock its 12th largest position. Thor Investment Management Inc. OH ADV's holdings in Intercontinental Exchange were worth $4,313,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Cascade Investment Group Inc. bought a new position in Intercontinental Exchange in the third quarter valued at approximately $233,000. Fragasso Financial Advisors Inc acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $340,000. NorthCrest Asset Manangement LLC raised its stake in shares of Intercontinental Exchange by 2.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 107,868 shares of the financial services provider's stock worth $16,757,000 after purchasing an additional 3,082 shares in the last quarter. Perpetual Ltd raised its stake in shares of Intercontinental Exchange by 3.8% during the 3rd quarter. Perpetual Ltd now owns 1,514,346 shares of the financial services provider's stock worth $230,226,000 after purchasing an additional 55,882 shares in the last quarter. Finally, JGP Wealth Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. JGP Wealth Management LLC now owns 55,816 shares of the financial services provider's stock valued at $8,486,000 after buying an additional 841 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of several analyst reports. Rothschild & Co Redburn raised their target price on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a "buy" rating in a research note on Thursday, September 10th. TD Cowen boosted their target price on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the stock a "hold" rating in a report on Monday. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday. Argus cut their price target on shares of Intercontinental Exchange from $190.00 to $187.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $186.25.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $1.11 during trading on Tuesday, reaching $156.31. 3,190,983 shares of the company's stock were exchanged, compared to its average volume of 3,792,214. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $87.75 billion, a PE ratio of 22.08, a PEG ratio of 1.48 and a beta of 0.94. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.05. The firm's fifty day moving average price is $155.99 and its 200-day moving average price is $150.76.

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, beating analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The firm's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.18 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Edmonds sold 5,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the completion of the sale, the insider 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president directly owned 164,264 shares of the company's stock, valued at $26,297,023.76. The trade was a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 41,179 shares of company stock valued at $6,473,715. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.