Socorro Asset Management LP Takes $5.15 Million Position in Intercontinental Exchange Inc. $ICE

Socorro Asset Management LP purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 32,738 shares of the financial services provider's stock, valued at approximately $5,149,000. Intercontinental Exchange makes up 2.3% of Socorro Asset Management LP's investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. ICONIQ Capital LLC increased its position in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mechanics Financial Corp lifted its position in Intercontinental Exchange by 1.0% in the 4th quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock valued at $994,000 after acquiring an additional 60 shares in the last quarter. Mission Wealth Management LP boosted its stake in Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 62 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Intercontinental Exchange by 1.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock valued at $548,000 after purchasing an additional 63 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $681,000 after purchasing an additional 63 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a report on Friday, July 10th. Barclays reduced their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. TD Cowen lowered their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $181.58.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares of the company's stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares of the company's stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,425 shares of company stock worth $2,046,324 over the last three months. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

ICE opened at $148.48 on Tuesday. The company's 50 day moving average is $139.35 and its 200 day moving average is $153.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market cap of $83.97 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.51 and a beta of 0.94. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.

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

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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