TD Waterhouse Canada Inc. Buys 10,648 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• TD Waterhouse Canada increased its Intercontinental Exchange stake by 57.9% in the second quarter, purchasing 10,648 shares and bringing its holdings to 29,024 shares valued at approximately $3.68 million.
• Institutional investors and hedge funds own 89.3% of ICE’s outstanding stock, while several firms recently expanded their positions.
• Analysts remain broadly positive, with the stock rated “Moderate Buy” and an average price target of $184.17. ICE recently beat quarterly earnings expectations, reporting $1.90 EPS versus $1.84 expected and $3.61 billion in revenue.

TD Waterhouse Canada Inc. boosted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 57.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,024 shares of the financial services provider's stock after purchasing an additional 10,648 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Intercontinental Exchange were worth $3,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC grew its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares in the last quarter. Empowered Funds LLC raised its holdings in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after acquiring an additional 289 shares during the period. NewEdge Advisors LLC lifted its position in shares of Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after acquiring an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock worth $48,894,000 after purchasing an additional 6,373 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. The Goldman Sachs Group decreased 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 note on Tuesday, June 30th. UBS Group reissued a "buy" rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays restated an "overweight" rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, TD Cowen reaffirmed a "buy" rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $184.17.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the transaction, the general counsel directly owned 43,065 shares in the company, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 40,912 shares of company stock worth $6,403,616 in the last three months. Company insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $161.34 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $90.57 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.59. The business has a 50 day simple moving average of $148.88 and a 200 day simple moving average of $151.66.

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