Figure 8 Investment Strategies LLC Buys New Shares in Intercontinental Exchange Inc. $ICE

Figure 8 Investment Strategies LLC purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,915 shares of the financial services provider’s stock, valued at approximately $902,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tsfg LLC boosted its position in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its stake in Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the period. Activest Wealth Management raised its stake in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after buying an additional 162 shares during the period. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange in the first quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at approximately $31,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research reports. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.20.

Intercontinental Exchange Stock Up 0.9%

Intercontinental Exchange stock opened at $162.47 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day simple moving average is $176.53 and its 200 day simple moving average is $174.67. The stock has a market cap of $93.00 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $1.52 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. This trade represents a 13.76% 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, COO Stuart Glen Williams sold 939 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the transaction, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This trade represents a 5.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,874 shares of company stock valued at $42,187,714 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

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.