AGF Management Ltd. Increases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

AGF Management Ltd. boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,208,036 shares of the financial services provider’s stock after acquiring an additional 218,516 shares during the quarter. Intercontinental Exchange accounts for 1.7% of AGF Management Ltd.’s holdings, making the stock its 8th largest holding. AGF Management Ltd.’s holdings in Intercontinental Exchange were worth $302,258,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Vaughan David Investments LLC IL increased its stake in Intercontinental Exchange by 1.9% in the second quarter. Vaughan David Investments LLC IL now owns 287,980 shares of the financial services provider’s stock valued at $39,422,000 after acquiring an additional 5,337 shares during the last quarter. MGO One Seven LLC increased its stake in Intercontinental Exchange by 41.1% in the second quarter. MGO One Seven LLC now owns 11,259 shares of the financial services provider’s stock valued at $1,541,000 after acquiring an additional 3,277 shares during the last quarter. Headlands Technologies LLC increased its stake in Intercontinental Exchange by 179.2% in the second quarter. Headlands Technologies LLC now owns 16,645 shares of the financial services provider’s stock valued at $2,279,000 after acquiring an additional 10,683 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in Intercontinental Exchange by 5.4% in the second quarter. Coldstream Capital Management Inc. now owns 9,281 shares of the financial services provider’s stock valued at $1,271,000 after acquiring an additional 478 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Intercontinental Exchange by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 88,171 shares of the financial services provider’s stock valued at $12,070,000 after acquiring an additional 846 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at $4,323,846.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at $4,323,846.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 66,346 shares of company stock worth $9,472,911 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ICE shares. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Argus reaffirmed a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. 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 research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $161.96 on Wednesday. The stock has a market cap of $92.90 billion, a price-to-earnings ratio of 37.15, a P/E/G ratio of 2.82 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The company’s fifty day moving average is $153.01 and its 200 day moving average is $141.55.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 earnings per share. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

About Intercontinental Exchange

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.