Portfolio Design Labs LLC Takes $521,000 Position in Intercontinental Exchange Inc. $ICE

Portfolio Design Labs LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, Holdings Channel reports. The fund bought 4,231 shares of the financial services provider’s stock, valued at approximately $521,000.

Other hedge funds also recently made changes to their positions in the company. ICONIQ Capital LLC boosted its stake in 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 buying an additional 56 shares during the last quarter. Mission Wealth Management LP increased its stake in Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Evergreen Capital Management LLC increased its stake in Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 63 shares during the last quarter. Johnson Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 4.0% during the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 68 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Barclays reaffirmed an “overweight” rating and set a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the sale, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was 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 owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 17,709 shares of company stock worth $2,646,042. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $158.68 on Friday. The company has a market cap of $89.08 billion, a P/E ratio of 22.41, a P/E/G ratio of 1.55 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $141.92 and its 200-day moving average price is $151.63. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.65.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.81 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Intercontinental Exchange 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.