323,573 Shares in Intercontinental Exchange Inc. $ICE Bought by Madison Asset Management LLC

Madison Asset Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 323,573 shares of the financial services provider’s stock, valued at approximately $39,835,000. Madison Asset Management LLC owned about 0.06% of Intercontinental Exchange at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ares Financial Consulting LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the fourth quarter worth about $30,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Intercontinental Exchange in the 4th quarter worth about $37,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. UBS Group reiterated a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research report on Monday, July 6th. Morgan Stanley dropped their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Finally, Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Up 0.6%

Intercontinental Exchange stock opened at $157.04 on Thursday. The firm has a 50 day moving average price of $141.53 and a 200-day moving average price of $151.73. 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 twelve month low of $121.79 and a twelve month high of $181.72. The company has a market capitalization of $88.16 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.53 and a beta of 0.92.

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

Insider Transactions at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 18,376 shares of company stock valued at $2,746,946. 0.84% of the stock is currently owned by insiders.

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.