Twin Capital Management Inc. Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Twin Capital Management Inc. bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the first quarter, HoldingsChannel reports. The institutional investor bought 8,473 shares of the financial services provider’s stock, valued at approximately $1,164,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pettyjohn Wood & White Inc. grew its holdings in Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares in the last quarter. Busey Bank raised its stake in Intercontinental Exchange by 3.4% during the first quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock valued at $335,000 after buying an additional 80 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in Intercontinental Exchange by 4.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after buying an additional 80 shares during the last quarter. Spire Wealth Management grew its position in shares of Intercontinental Exchange by 16.4% in the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 82 shares in the last quarter. Finally, PDS Planning Inc increased its holdings in shares of Intercontinental Exchange by 2.8% in the 1st quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 83 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now directly owns 649,934 shares in the company, valued at approximately $565,442.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,290 shares of company stock worth $9,086,274. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ICE. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Barclays lifted their price target on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Morgan Stanley lifted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.07.

Intercontinental Exchange Stock Down 0.7 %

Shares of Intercontinental Exchange stock traded down $1.06 during midday trading on Wednesday, hitting $147.51. The company’s stock had a trading volume of 2,876,300 shares, compared to its average volume of 2,413,550. The firm has a market capitalization of $84.61 billion, a P/E ratio of 33.83, a PEG ratio of 2.65 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $150.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a 50-day simple moving average of $139.17 and a 200-day simple moving average of $135.31.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 EPS. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.99 earnings per share for the current year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.