Walter Public Investments Inc. Boosts Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Walter Public Investments Inc. increased its stake in Intercontinental Exchange Inc. by 2.6%, totaling 139,088 shares, making it the fund's 6th largest holding.
• Intercontinental Exchange reported an earnings per share (EPS) of $1.81 for the last quarter, exceeding analysts' expectations of $1.77, with a year-over-year revenue increase of 9.8%.
• Analysts have given Intercontinental Exchange a consensus rating of "Moderate Buy" with an average target price of $194.92.

Walter Public Investments Inc. boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 139,088 shares of the financial services provider's stock after acquiring an additional 3,502 shares during the quarter. Intercontinental Exchange makes up approximately 4.3% of Walter Public Investments Inc.'s portfolio, making the stock its 6th largest holding. Walter Public Investments Inc.'s holdings in Intercontinental Exchange were worth $25,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Advisors Capital Management LLC raised its position in shares of Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock valued at $341,000 after purchasing an additional 396 shares during the period. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $349,000. Sequoia Financial Advisors LLC raised its position in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after purchasing an additional 1,879 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,949,000. Finally, Ritholtz Wealth Management raised its position in shares of Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock valued at $1,372,000 after purchasing an additional 2,732 shares during the period. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $0.52 on Monday, hitting $170.29. The company's stock had a trading volume of 4,228,054 shares, compared to its average volume of 2,998,458. The firm has a market cap of $97.48 billion, a P/E ratio of 32.69, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $179.58 and a 200-day moving average price of $175.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for 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 business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director owned 14,299 shares of the company's stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares in the company, valued at approximately $4,530,293.52. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 231,669 shares of company stock worth $42,333,438. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Company 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.