First Washington CORP Has $7.14 Million Position in Intercontinental Exchange Inc. $ICE

Key Points

• First Washington CORP increased its stake in Intercontinental Exchange by 53% in the first quarter, ending with 45,404 shares valued at about $7.14 million.
• Intercontinental Exchange reported better-than-expected Q1 earnings, with EPS of $2.35 versus the $2.23 estimate and revenue of $3.67 billion, up 20.4% from a year earlier.
• Analysts remain mostly positive but have trimmed price targets recently; the stock currently carries a consensus rating of Moderate Buy with an average target of $181.58.

First Washington CORP grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 53.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,404 shares of the financial services provider's stock after purchasing an additional 15,722 shares during the quarter. Intercontinental Exchange makes up approximately 2.0% of First Washington CORP's investment portfolio, making the stock its 15th largest holding. First Washington CORP's holdings in Intercontinental Exchange were worth $7,141,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ICE. Caxton Associates LLP bought a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $228,000. Inceptionr LLC bought a new stake in Intercontinental Exchange in the 1st quarter valued at $1,909,000. Gibbs Wealth Management acquired a new position in Intercontinental Exchange in the 1st quarter valued at $559,000. Sei Investments Co. increased its position in Intercontinental Exchange by 9.5% during the 1st quarter. Sei Investments Co. now owns 797,473 shares of the financial services provider's stock worth $125,426,000 after buying an additional 69,328 shares during the period. Finally, Sycale Advisors NY LLC lifted its holdings in shares of Intercontinental Exchange by 0.8% during the first quarter. Sycale Advisors NY LLC now owns 173,783 shares of the financial services provider's stock worth $27,333,000 after buying an additional 1,431 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction 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 transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the sale, the director owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 0.5%

Shares of Intercontinental Exchange stock opened at $143.19 on Friday. 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 $121.79 and a 12-month high of $189.35. The company has a market capitalization of $80.98 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.48 and a beta of 0.94. The firm's 50-day moving average price is $139.67 and its two-hundred day moving average price is $154.14.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research note on Friday, July 10th. Barclays decreased their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. The Goldman Sachs Group dropped their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target on the stock. Finally, Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $181.58.

Intercontinental Exchange Company 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.

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