Hazlett Burt & Watson Inc. Acquires 145 Shares of Intercontinental Exchange Inc. $ICE

Hazlett Burt & Watson Inc. raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 32.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 594 shares of the financial services provider’s stock after buying an additional 145 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Intercontinental Exchange were worth $109,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after acquiring an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after buying an additional 5,345,388 shares in the last quarter. Amundi grew its stake in shares of Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after buying an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP grew its stake in shares of Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after buying an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $199.60.

Intercontinental Exchange Stock Up 0.9%

ICE opened at $158.85 on Tuesday. The company has a market capitalization of $90.93 billion, a P/E ratio of 30.49, a P/E/G ratio of 1.93 and a beta of 1.08. The stock has a fifty day moving average of $173.41 and a 200-day moving average of $173.99. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,956 shares of company stock valued at $43,789,542. Company insiders own 1.00% of the company’s stock.

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.