Fiera Capital Corp Buys 9,530 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Fiera Capital Corp increased its stake in Intercontinental Exchange by 15.6% in the fourth quarter, buying 9,530 additional shares and bringing its total holdings to 70,764 shares valued at about $11.46 million.
• Analyst sentiment remains broadly positive: Deutsche Bank upgraded ICE to buy, UBS and Barclays reiterated bullish ratings, and the stock currently carries a Moderate Buy consensus with a price target of $194.60.
• ICE recently reported strong quarterly results, with EPS of $2.35 beating expectations and revenue of $3.67 billion topping estimates, though the stock was trading lower at $138.89 and is down from its 52-week high.

Fiera Capital Corp lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,764 shares of the financial services provider's stock after buying an additional 9,530 shares during the period. Fiera Capital Corp's holdings in Intercontinental Exchange were worth $11,461,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $25,000. Dorato Capital Management bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $29,000. Steph & Co. lifted its stake in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after buying an additional 89 shares during the period. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $30,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Weiss Ratings cut shares of Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 2nd. UBS Group reiterated a "buy" rating and issued a $205.00 target price on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target for the company. Finally, Barclays restated an "overweight" rating and set a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.60.

Intercontinental Exchange Stock Down 1.8%

Shares of ICE opened at $138.89 on Tuesday. The stock has a market cap of $78.54 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35. The company has a 50-day moving average price of $155.49 and a two-hundred day moving average price of $159.68.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. Equities analysts predict that Intercontinental Exchange Inc. will post 8.16 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were 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 approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director directly owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. The trade was a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,001 shares of company stock worth $1,847,820 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

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.