Great Diamond Partners LLC Buys New Stake in Intercontinental Exchange Inc. $ICE

Great Diamond Partners LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,177 shares of the financial services provider’s stock, valued at approximately $583,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Knuff & Co LLC raised its holdings in shares of Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the period. Guggenheim Capital LLC boosted its holdings in Intercontinental Exchange by 5.9% during the 2nd quarter. Guggenheim Capital LLC now owns 215,987 shares of the financial services provider’s stock valued at $39,627,000 after acquiring an additional 12,111 shares during the period. EverSource Wealth Advisors LLC grew its position in Intercontinental Exchange by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,417 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 684 shares in the last quarter. Alpha Family Trust purchased a new stake in Intercontinental Exchange during the second quarter worth about $210,000. Finally, 1832 Asset Management L.P. lifted its position in shares of Intercontinental Exchange by 6,522.7% during the second quarter. 1832 Asset Management L.P. now owns 751,010 shares of the financial services provider’s stock worth $137,788,000 after purchasing an additional 739,670 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Morgan Stanley decreased their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Finally, UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $194.70.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 1,572 shares of the stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the transaction, the chief financial officer owned 20,534 shares in the company, valued at approximately $3,155,049.10. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 10,082 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 168,044 shares of company stock valued at $25,832,095 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Up 1.4%

NYSE ICE opened at $159.03 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a market capitalization of $90.67 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.05. The firm has a 50 day moving average of $155.59 and a two-hundred day moving average of $170.88.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The company’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.