Bradley Foster & Sargent Inc. CT Has $16.60 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• Bradley Foster & Sargent Inc. CT increased its Intercontinental Exchange stake by 41% in the first quarter, bringing its holdings to 105,522 shares valued at about $16.6 million.
• Intercontinental Exchange reported better-than-expected quarterly results, with earnings of $2.35 per share and revenue of $3.67 billion, while revenue rose 20.4% year over year.
• Analysts remain broadly positive on ICE, with a Moderate Buy consensus and an average price target of $181.58, even as several firms trimmed their targets recently. Insiders also sold shares in recent months, including the CTO and CFO.

Bradley Foster & Sargent Inc. CT boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 41.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,522 shares of the financial services provider's stock after purchasing an additional 30,677 shares during the period. Bradley Foster & Sargent Inc. CT's holdings in Intercontinental Exchange were worth $16,596,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ICE. ICONIQ Capital LLC grew its holdings in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp raised its holdings in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock worth $994,000 after acquiring an additional 60 shares in the last quarter. Mission Wealth Management LP boosted its position in Intercontinental Exchange by 2.4% during the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock valued at $548,000 after purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 1.9%

Intercontinental Exchange stock opened at $145.93 on Friday. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company's fifty day moving average price is $139.50 and its two-hundred day moving average price is $154.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $82.53 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.51 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business's quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. On average, analysts forecast that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on ICE. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Weiss Ratings lowered Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Barclays dropped their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Finally, 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 research report on Friday, July 10th. One equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $181.58.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the sale, the chief technology officer owned 64,869 shares of the company's stock, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at approximately $3,945,604.96. This trade represents a 9.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,425 shares of company stock worth $2,046,324 in the last three months. 0.84% of the stock is owned by 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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