Socorro Asset Management LP Acquires Shares of 32,738 Intercontinental Exchange Inc. $ICE

Socorro Asset Management LP bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, HoldingsChannel.com reports. The fund bought 32,738 shares of the financial services provider’s stock, valued at approximately $5,149,000. Intercontinental Exchange accounts for approximately 2.3% of Socorro Asset Management LP’s investment portfolio, making the stock its 28th biggest position.

A number of other large investors have also recently made changes to their positions in ICE. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Dorato Capital Management purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Finally, Steph & Co. boosted its holdings in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 89 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $148.48 on Tuesday. The stock’s fifty day moving average is $139.35 and its two-hundred day moving average is $153.88. The company has a market capitalization of $83.97 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.01 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. UBS Group cut their price objective on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price on the stock. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $181.58.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. Company insiders own 0.84% of the company’s stock.

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.