Intercontinental Exchange Inc. $ICE Shares Acquired by Live Oak Private Wealth LLC

Key Points

• Live Oak Private Wealth LLC increased its Intercontinental Exchange stake by 319.8% in the second quarter, bringing its holdings to 12,297 shares valued at approximately $1.51 million. Institutional investors collectively own 89.3% of ICE.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $184.17. Recent targets range from $178 to $218.
• ICE reported quarterly earnings of $1.90 per share, beating estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. The stock recently opened at $159.21, and insiders have sold more than $3.55 million in shares over the past 90 days.

Live Oak Private Wealth LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 319.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,297 shares of the financial services provider's stock after purchasing an additional 9,368 shares during the quarter. Live Oak Private Wealth LLC's holdings in Intercontinental Exchange were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklands Fund Management Ltd acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $26,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $37,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Raymond James Financial restated a "strong-buy" rating and set a $218.00 target price on shares of Intercontinental Exchange in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group decreased their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. UBS Group reaffirmed a "buy" rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Weiss Ratings raised Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $184.17.

Intercontinental Exchange Price Performance

ICE opened at $159.21 on Wednesday. The company's 50 day simple moving average is $146.01 and its 200 day simple moving average is $151.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $177.00. The stock has a market capitalization of $89.38 billion, a PE ratio of 22.49, a P/E/G ratio of 1.56 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.81 earnings per share. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Martha A. Tirinnanzi sold 1,340 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $161.16, for a total value of $215,954.40. Following the transaction, the director directly owned 3,747 shares of the company's stock, valued at approximately $603,866.52. This trade represents a 26.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. The trade was a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,141 shares of company stock worth $3,554,192 over the last 90 days. 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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