Coastal Bridge Advisors LLC Invests $4.36 Million in Intercontinental Exchange Inc. $ICE

Coastal Bridge Advisors LLC acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 35,428 shares of the financial services provider’s stock, valued at approximately $4,362,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J. Stern & Co. LLP raised its position in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. BlackRock Inc. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $6,245,085,000. Norges Bank bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $714,869,000. Finally, Flossbach Von Storch SE acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $649,900,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $161.19 on Friday. The stock 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 company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50-day moving average of $144.32 and a 200-day moving average of $151.43. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $177.76.

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, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.81 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ICE. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. The Goldman Sachs Group dropped their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley cut their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Finally, UBS Group reiterated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One investment 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, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $183.33.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total value of $256,000.00. Following the transaction, the senior vice president owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,227 shares of company stock worth $2,598,301. Insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

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.