Schmidt P J Investment Management Inc. increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,525 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Intercontinental Exchange were worth $1,023,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Guardian Life Insurance Co. of America raised its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,298 shares of the financial services provider’s stock valued at $138,000 after buying an additional 16 shares in the last quarter. Emerald Advisers Inc. PA raised its stake in shares of Intercontinental Exchange by 0.3% in the first quarter. Emerald Advisers Inc. PA now owns 12,720 shares of the financial services provider’s stock valued at $762,000 after buying an additional 39 shares in the last quarter. FCG Advisors LLC raised its stake in shares of Intercontinental Exchange by 1.1% in the first quarter. FCG Advisors LLC now owns 6,125 shares of the financial services provider’s stock valued at $367,000 after buying an additional 65 shares in the last quarter. Aspen Investment Management Inc raised its stake in shares of Intercontinental Exchange by 0.8% in the first quarter. Aspen Investment Management Inc now owns 8,770 shares of the financial services provider’s stock valued at $525,000 after buying an additional 70 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Intercontinental Exchange by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 36,700 shares of the financial services provider’s stock valued at $2,419,000 after buying an additional 100 shares in the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.
Intercontinental Exchange Inc. (NYSE:ICE) opened at 65.73 on Thursday. Intercontinental Exchange Inc. has a 52-week low of $52.27 and a 52-week high of $67.48. The company has a market cap of $7.56 billion, a PE ratio of 25.38 and a beta of 0.71. The company has a 50-day moving average of $65.76 and a 200 day moving average of $61.39.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities research analysts predict that Intercontinental Exchange Inc. will post $2.94 EPS for the current year.
Several equities analysts have weighed in on the company. Deutsche Bank AG restated a “buy” rating and set a $66.00 target price (down from $67.00) on shares of Intercontinental Exchange in a report on Monday, May 15th. Royal Bank Of Canada upgraded Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $65.00 to $70.00 in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and set a $70.00 target price on shares of Intercontinental Exchange in a report on Monday, June 26th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Thursday, July 13th. Finally, BidaskClub downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $67.49.
In related news, Director Charles R. Crisp sold 3,365 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $58.65, for a total value of $197,357.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 15,000 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $60.37, for a total transaction of $905,550.00. Following the completion of the transaction, the insider now owns 384,971 shares of the company’s stock, valued at $23,240,699.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 166,389 shares of company stock valued at $10,279,500. 1.50% of the stock is owned by company insiders.
About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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