Certuity LLC Has $1.56 Million Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Certuity LLC increased its stake in Intercontinental Exchange (NYSE:ICE) by 604.9% in Q3 to 9,262 shares, valued at approximately $1.56 million.
• Major institutional activity includes a new Norges Bank position worth about $1.543 billion and Sands Capital's 5.31M-share holding (~$974.8 million), with institutional investors owning roughly 89.3% of the stock.
• Insiders have sold heavily (348,418 shares totaling about $54.2 million in the past 90 days), while ICE beat its most recent quarter's EPS estimate ($1.71 vs. $1.67) and carries a consensus Buy rating with a $194.73 price target and a $0.52 quarterly dividend (1.3% yield).

Certuity LLC raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 604.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,262 shares of the financial services provider's stock after buying an additional 7,948 shares during the quarter. Certuity LLC's holdings in Intercontinental Exchange were worth $1,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Norges Bank purchased a new position in shares of Intercontinental Exchange in the second quarter worth approximately $1,542,780,000. Sands Capital Management LLC lifted its position in shares of Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider's stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Intercontinental Exchange by 179.1% in the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider's stock worth $416,544,000 after purchasing an additional 1,586,620 shares during the period. Waverton Investment Management Ltd boosted its stake in Intercontinental Exchange by 28,886.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider's stock worth $257,163,000 after purchasing an additional 1,521,467 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Intercontinental Exchange by 55.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider's stock worth $510,330,000 after purchasing an additional 994,316 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company's stock, valued at $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 348,418 shares of company stock valued at $54,196,631 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 1.0%

NYSE ICE opened at $158.57 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm's fifty day simple moving average is $164.54 and its 200-day simple moving average is $162.47. The company has a market capitalization of $90.05 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter last year, the firm earned $1.52 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange's payout ratio is presently 33.28%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group restated a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an "equal weight" rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an "overweight" rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $194.73.

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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