PFW Advisors LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

PFW Advisors LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 16,648 shares of the financial services provider’s stock, valued at approximately $2,481,000. Intercontinental Exchange accounts for 0.8% of PFW Advisors LLC’s holdings, making the stock its 29th largest position.

A number of other institutional investors have also modified their holdings of ICE. State Street Corp grew its holdings in shares of Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares during the period. FMR LLC lifted its stake in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC boosted its holdings in shares of Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.7 %

Shares of Intercontinental Exchange stock traded up $1.04 during trading on Monday, hitting $143.84. The stock had a trading volume of 3,358,025 shares, compared to its average volume of 3,005,327. The stock has a 50 day simple moving average of $154.09 and a 200 day simple moving average of $155.43. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $82.59 billion, a PE ratio of 34.09, a P/E/G ratio of 2.57 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,533 shares of company stock worth $1,196,279 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ICE. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Bank of America lifted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Finally, Barclays decreased their price objective on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.20.

Intercontinental Exchange Company 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.