Hanson & Doremus Investment Management Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Hanson & Doremus Investment Management bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, HoldingsChannel.com reports. The fund bought 367 shares of the financial services provider’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ICE. Janus Henderson Group PLC grew its stake in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after buying an additional 3,460,096 shares in the last quarter. FMR LLC grew its position 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 acquiring an additional 2,401,630 shares in the last quarter. Swedbank AB raised its stake in shares of Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the period. Two Sigma Advisers LP lifted its position in shares of Intercontinental Exchange by 285.9% during the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Intercontinental Exchange by 426.3% in the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after purchasing an additional 584,400 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays reduced their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, January 13th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock worth $2,120,572 in the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

ICE opened at $159.45 on Friday. 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’s 50-day moving average price is $153.10 and its 200 day moving average price is $156.33. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The firm has a market cap of $91.55 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the firm earned $1.46 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

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.