McAdam LLC Purchases New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

McAdam LLC acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 1,481 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Wellington Management Group LLP raised its holdings in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. D.A. Davidson & CO. raised its stake in Intercontinental Exchange by 8.5% during the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares during the period. Point72 Europe London LLP boosted its holdings in Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares during the last quarter. Perpetual Ltd grew its stake in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after buying an additional 6,272 shares during the period. Finally, LGT Group Foundation increased its holdings in shares of Intercontinental Exchange by 36.0% during the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after buying an additional 94,039 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9 %

Shares of ICE traded up $1.41 during mid-day trading on Friday, hitting $160.01. 2,665,237 shares of the company’s stock were exchanged, compared to its average volume of 2,468,567. The stock’s 50-day moving average is $147.29 and its 200-day moving average is $139.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $160.25. The company has a market cap of $91.78 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.68 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Argus reaffirmed a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $154.93.

Insider Transactions at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the transaction, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the sale, the chief executive officer now owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is currently owned by company insiders.

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.