Kirtland Hills Capital Management LLC Purchases Shares of 21,030 Intercontinental Exchange Inc. $ICE

Kirtland Hills Capital Management LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The firm acquired 21,030 shares of the financial services provider’s stock, valued at approximately $2,589,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in Intercontinental Exchange by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after acquiring an additional 10,742 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $6,245,085,000. USS Investment Management Ltd raised its holdings in shares of Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after purchasing an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its position in shares of Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock worth $20,244,000 after purchasing an additional 15,129 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This represents a 27.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 20,200 shares of company stock valued at $3,035,385. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Up 1.7%

NYSE ICE opened at $161.29 on Friday. 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 firm’s fifty day moving average price is $142.34 and its 200 day moving average price is $151.69. The company has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $181.65.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly 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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period last year, the business earned $1.81 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal 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.