310,188 Shares in Intercontinental Exchange, Inc. (NYSE:ICE) Bought by M.D. Sass LLC

M.D. Sass LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, Holdings Channel.com reports. The fund bought 310,188 shares of the financial services provider’s stock, valued at approximately $49,829,000. Intercontinental Exchange makes up about 3.7% of M.D. Sass LLC’s portfolio, making the stock its 13th largest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. grew its position in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC grew its position in Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after buying an additional 66 shares in the last quarter. American National Bank increased its stake in Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC raised its holdings in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $0.50 during trading hours on Tuesday, hitting $159.13. 179,594 shares of the company’s stock were exchanged, compared to its average volume of 2,563,012. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The stock has a market cap of $91.37 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $160.59 and its 200-day moving average is $151.34.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange 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 completion of the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,868 shares of company stock valued at $622,079. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ICE shares. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Finally, Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.