Papamarkou Wellner Asset Management inc. Invests $1.83 Million in Intercontinental Exchange Inc. $ICE

Papamarkou Wellner Asset Management inc. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,643 shares of the financial services provider’s stock, valued at approximately $1,831,000. Intercontinental Exchange accounts for about 0.4% of Papamarkou Wellner Asset Management inc.’s holdings, making the stock its 29th largest holding.

Several other institutional investors also recently bought and sold shares of the business. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange in the second quarter worth $26,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the fourth quarter worth $28,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Intercontinental Exchange during the fourth quarter valued at $30,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $161.19 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market cap of $90.49 billion, a PE ratio of 22.77, a P/E/G ratio of 1.57 and a beta of 0.92. The business has a fifty day simple moving average of $144.32 and a 200-day simple moving average of $151.43. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $177.76.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. This trade represents a 8.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 17,227 shares of company stock valued at $2,598,301. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICE. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. Finally, Barclays restated an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.