Figure 8 Investment Strategies LLC Takes $1.09 Million Position in Intercontinental Exchange Inc. $ICE

Figure 8 Investment Strategies LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,872 shares of the financial services provider's stock, valued at approximately $1,092,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICONIQ Capital LLC increased its position in 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 purchasing an additional 56 shares during the period. Mission Wealth Management LP lifted its position in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock worth $423,000 after purchasing an additional 62 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.5% during 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. Johnson Financial Group LLC boosted its stake in shares of Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider's stock valued at $277,000 after purchasing an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider's stock valued at $42,000 after buying an additional 68 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ICE. UBS Group reissued a "buy" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Barclays reissued an "overweight" rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings cut Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $183.33.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $156.30 on Wednesday. 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 50 day moving average price of $141.20 and a 200-day moving average price of $151.86. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.72. The firm has a market cap of $87.75 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92.

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 company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the business earned $1.81 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the firm'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 directly owned 20,132 shares of the company's stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company's stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,376 shares of company stock worth $2,746,946 over the last quarter. Company insiders own 0.84% of the company's stock.

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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