Weaver Capital Management LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Weaver Capital Management LLC grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,770 shares of the financial services provider’s stock after buying an additional 749 shares during the quarter. Weaver Capital Management LLC’s holdings in Intercontinental Exchange were worth $766,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. CCLA Investment Management boosted its stake in Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after buying an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Intercontinental Exchange during the second quarter valued at approximately $124,508,000. Janus Henderson Group PLC raised its stake in shares of Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after acquiring an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $93,340,000. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on ICE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, October 4th. Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group boosted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Finally, TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $165.94 on Wednesday. The stock’s 50 day moving average is $161.03 and its 200 day moving average is $146.73. The company has a market capitalization of $95.18 billion, a P/E ratio of 38.06, a PEG ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. Intercontinental Exchange’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,532 shares of company stock worth $1,358,709 over the last 90 days. 1.10% of the stock is currently owned by insiders.

About Intercontinental Exchange

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.