NewEdge Advisors LLC Grows Stake in Intercontinental Exchange Inc. $ICE

Key Points

• NewEdge Advisors increased its Intercontinental Exchange stake by 41.3% in the first quarter, bringing its holdings to 39,775 shares valued at approximately $6.26 million. Institutional investors collectively own 89.3% of ICE.
• Intercontinental Exchange exceeded quarterly earnings expectations, reporting $1.90 EPS versus the $1.84 consensus and $3.61 billion in revenue, up 4.8% year over year. Analysts expect full-year EPS of $8.08.
• Analysts maintain a generally positive view, with ICE carrying a “Moderate Buy” consensus rating and an average price target of $183.33, although some firms recently lowered their targets. Insiders have sold 20,725 shares worth about $3.13 million over the past 90 days.

NewEdge Advisors LLC increased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 41.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,775 shares of the financial services provider's stock after acquiring an additional 11,624 shares during the period. NewEdge Advisors LLC's holdings in Intercontinental Exchange were worth $6,256,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ICE. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Steph & Co. boosted its stake in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Brooklands Fund Management Ltd bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $30,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $150.48 on Tuesday. The company has a market capitalization of $84.48 billion, a PE ratio of 21.25, a P/E/G ratio of 1.48 and a beta of 0.92. The company has a 50-day simple moving average of $139.62 and a two-hundred day simple moving average of $152.68. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $187.09. 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 (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the firm earned $1.81 EPS. The company's quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ICE. The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. TD Cowen restated a "buy" rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays reiterated 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. Finally, Morgan Stanley decreased their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $183.33.

Insider Activity

In other news, SVP Douglas Foley sold 7,300 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company's stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,725 shares of company stock worth $3,133,148. Company insiders own 0.84% of the company's stock.

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.

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