Cwm LLC Increases Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Cwm LLC increased its stake in Intercontinental Exchange Inc. by 13.8% during the second quarter, owning 18,159 shares valued at approximately $3.33 million.
• Intercontinental Exchange reported earnings of $1.81 EPS for the quarter, exceeding estimates by $0.04, with revenues of $3.26 billion, which was also above analyst expectations.
• Wall Street analysts have an average rating of "Moderate Buy" for Intercontinental Exchange with a consensus price target of $199.60.

Cwm LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,159 shares of the financial services provider's stock after purchasing an additional 2,197 shares during the quarter. Cwm LLC's holdings in Intercontinental Exchange were worth $3,332,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisors Capital Management LLC lifted its stake in Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 396 shares during the period. Capital Investment Advisory Services LLC bought a new position in Intercontinental Exchange during the 1st quarter valued at about $349,000. Sequoia Financial Advisors LLC lifted its stake in Intercontinental Exchange by 18.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after acquiring an additional 1,879 shares during the period. First American Bank lifted its stake in Intercontinental Exchange by 2.1% during the 1st quarter. First American Bank now owns 76,332 shares of the financial services provider's stock valued at $13,167,000 after acquiring an additional 1,580 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Intercontinental Exchange by 6.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider's stock valued at $11,927,000 after acquiring an additional 4,107 shares during the period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 0.1%

Intercontinental Exchange stock opened at $153.52 on Friday. The firm has a 50 day moving average of $170.86 and a 200 day moving average of $173.52. The firm has a market capitalization of $87.88 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. This represents a 13.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares of the company's stock, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 240,956 shares of company stock worth $43,789,542 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a "moderate buy" rating in a research note on Monday, October 6th. Barclays reiterated an "overweight" rating and issued a $201.00 price objective (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research note on Thursday, September 25th. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 1st. Finally, Raymond James Financial upgraded shares of Intercontinental Exchange from an "outperform" rating to a "strong-buy" rating and set a $210.00 price objective on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $199.60.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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