BOK Financial Private Wealth Inc. Takes Position in Intercontinental Exchange Inc. $ICE

Key Points

• BOK Financial Private Wealth acquired 13,347 shares of Intercontinental Exchange in the second quarter, valued at approximately $1.64 million. Institutional investors collectively own 89.3% of ICE’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $183.33, despite some target-price reductions and one sell rating.
• 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 $156.30, below its 12-month high of $181.72.

BOK Financial Private Wealth Inc. bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 13,347 shares of the financial services provider's stock, valued at approximately $1,643,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ICE. J. Stern & Co. LLP increased its position in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange during the second quarter worth $6,245,085,000. Norges Bank purchased a new position in Intercontinental Exchange in the fourth quarter valued at $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Intercontinental Exchange in the second quarter valued at $714,869,000. Finally, Viking Global Investors LP acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $777,926,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ICE shares. UBS Group reaffirmed a "buy" rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen lowered shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Morgan Stanley cut their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. TD Cowen restated a "buy" rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, The Goldman Sachs Group lowered their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $183.33.

Intercontinental Exchange Price Performance

ICE stock opened at $156.30 on Wednesday. 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 company has a market capitalization of $87.75 billion, a P/E ratio of 22.08, a PEG ratio of 1.52 and a beta of 0.92. The business has a 50 day simple moving average of $141.20 and a 200-day simple moving average of $151.86. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.72.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Intercontinental Exchange's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president owned 19,063 shares of the company's stock, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director owned 20,132 shares of the company's stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,376 shares of company stock worth $2,746,946 over the last three months. 0.84% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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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