Applied Finance Capital Management LLC Buys New Stake in Intercontinental Exchange Inc. $ICE

Applied Finance Capital Management LLC acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,453 shares of the financial services provider’s stock, valued at approximately $721,000.

Several other institutional investors have also bought and sold shares of ICE. ICONIQ Capital LLC raised its stake in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares during the last quarter. Mechanics Financial Corp raised its stake in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock valued at $994,000 after acquiring an additional 60 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock valued at $548,000 after acquiring an additional 63 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. Finally, Sather Financial Group Inc increased its position in shares of Intercontinental Exchange by 4.7% during the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock valued at $233,000 after buying an additional 64 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ICE. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. UBS Group reiterated a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.10.

Insider Activity

In other news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the sale, the president owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 330,835 shares of company stock valued at $51,275,650. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $154.48 on Friday. The stock has a market cap of $87.36 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm’s 50-day simple moving average is $159.26 and its two-hundred day simple moving average is $159.94.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. Analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.

Intercontinental Exchange Company 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.