Harmony Asset Management LLC Purchases 4,287 Shares of Intercontinental Exchange Inc. $ICE

Harmony Asset Management LLC raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 30.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,382 shares of the financial services provider’s stock after purchasing an additional 4,287 shares during the period. Harmony Asset Management LLC’s holdings in Intercontinental Exchange were worth $2,263,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ICE. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares in the last quarter. J. Stern & Co. LLP lifted its holdings in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. State Street Corp boosted its position in Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares during the last quarter. Morgan Stanley boosted its position in Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Norges Bank bought a new position in Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. This trade represents a 27.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 16,454 shares of company stock valued at $2,469,349. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.1%

Shares of NYSE ICE opened at $151.33 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $84.96 billion, a PE ratio of 21.37, a P/E/G ratio of 1.49 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $183.65. The business’s fifty day moving average price is $140.05 and its 200-day moving average price is $152.37.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ICE. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, TD Cowen reissued a “buy” rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $183.33.

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.