Stansberry Asset Management LLC Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Stansberry Asset Management LLC increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 72,497 shares of the financial services provider’s stock after buying an additional 493 shares during the quarter. Intercontinental Exchange comprises 1.5% of Stansberry Asset Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Stansberry Asset Management LLC’s holdings in Intercontinental Exchange were worth $11,646,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its stake in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ICE shares. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group lifted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now 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. Over the last 90 days, insiders sold 9,696 shares of company stock valued at $1,554,559. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $156.14 on Thursday. The stock has a 50-day moving average price of $160.47 and a two-hundred day moving average price of $152.37. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $89.65 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS 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.