Shell Asset Management Co. Buys 14,005 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Shell Asset Management Co. increased its stake in Intercontinental Exchange Inc. by 63.0%, acquiring an additional 14,005 shares during the second quarter, bringing its total holdings to 36,229 shares valued at approximately $6.65 million.
• In recent trading, Intercontinental Exchange’s stock opened at $158.96, with a market cap of $90.99 billion and a 1-year price range between $142.29 and $189.35.
• Wall Street analysts maintain a positive outlook, with nine analysts rating the stock as a Buy and suggesting an average price target of $198.20.

Shell Asset Management Co. grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 63.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,229 shares of the financial services provider's stock after acquiring an additional 14,005 shares during the quarter. Shell Asset Management Co.'s holdings in Intercontinental Exchange were worth $6,647,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ICE. Brighton Jones LLC raised its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Intercontinental Exchange in the first quarter worth $88,000. Sivia Capital Partners LLC increased its position in Intercontinental Exchange by 4.6% during the first quarter. Sivia Capital Partners LLC now owns 1,789 shares of the financial services provider's stock valued at $309,000 after acquiring an additional 78 shares during the last quarter. Wedmont Private Capital increased its position in Intercontinental Exchange by 15.2% during the first quarter. Wedmont Private Capital now owns 7,065 shares of the financial services provider's stock valued at $1,219,000 after acquiring an additional 932 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in Intercontinental Exchange by 17.7% in the first quarter. Capital Investment Advisors LLC now owns 1,772 shares of the financial services provider's stock valued at $306,000 after acquiring an additional 266 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $158.96 on Tuesday. The company has a 50 day simple moving average of $176.06 and a two-hundred day simple moving average of $174.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $90.99 billion, a P/E ratio of 30.51, a PEG ratio of 1.98 and a beta of 1.08. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 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 the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. Equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ICE shares. Morgan Stanley cut their price target on Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 1st. Barclays boosted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus price target of $198.20.

Intercontinental Exchange 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.

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