Tower Research Capital LLC TRC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Tower Research Capital LLC TRC increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 270.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,565 shares of the financial services provider’s stock after purchasing an additional 60,302 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Intercontinental Exchange were worth $10,604,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ICE. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange during the third quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Altshuler Shaham Ltd acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $29,000. Finally, Sachetta LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $0.58 on Wednesday, hitting $135.34. The company had a trading volume of 2,259,227 shares, compared to its average volume of 2,313,053. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.43. The stock has a market cap of $77.63 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.49 and a beta of 1.06. The stock has a 50 day moving average price of $133.96 and a 200 day moving average price of $130.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was up 20.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 2,267 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the sale, the director now owns 28,849 shares in the company, valued at $3,882,209.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,734 shares of company stock worth $8,738,238. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ICE shares. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Argus reiterated a “buy” rating and issued a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Bank of America decreased their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

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.