Oak Thistle LLC Invests $866,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Oak Thistle LLC purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,298 shares of the financial services provider’s stock, valued at approximately $866,000. Intercontinental Exchange accounts for 0.8% of Oak Thistle LLC’s portfolio, making the stock its 7th biggest position.

A number of other large investors have also recently made changes to their positions in the stock. Pettyjohn Wood & White Inc. grew its stake in shares of Intercontinental Exchange by 0.5% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares during the period. Western Pacific Wealth Management LP grew its position in Intercontinental Exchange by 4.9% during the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares during the period. Kampmann Melissa S. grew its position in Intercontinental Exchange by 0.3% during the fourth quarter. Kampmann Melissa S. now owns 26,175 shares of the financial services provider’s stock valued at $3,362,000 after buying an additional 85 shares during the period. Assetmark Inc. grew its position in Intercontinental Exchange by 0.8% during the fourth quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 86 shares during the period. Finally, Marcum Wealth LLC grew its position in Intercontinental Exchange by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,802 shares of the financial services provider’s stock valued at $385,000 after buying an additional 87 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.04 during mid-day trading on Monday, hitting $136.93. The company had a trading volume of 2,348,929 shares, compared to its average volume of 2,348,960. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $140.43. The stock’s 50 day moving average price is $134.52 and its 200-day moving average price is $132.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $78.54 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.55 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting 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 quarter in the previous year, the firm earned $1.41 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,894 shares of company stock worth $8,620,792. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a report on Monday. Finally, Argus reaffirmed a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $151.29.

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.