Phoenix Financial Ltd. Makes New $1.52 Million Investment in Intercontinental Exchange Inc. $ICE

Phoenix Financial Ltd. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 9,000 shares of the financial services provider’s stock, valued at approximately $1,516,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after acquiring an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the period. ORG Partners LLC boosted its position in shares of Intercontinental Exchange by 41.0% during the 2nd quarter. ORG Partners LLC now owns 392 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 114 shares during the period. Finally, Global Trust Asset Management LLC increased its holdings in Intercontinental Exchange by 348.3% in the 2nd quarter. Global Trust Asset Management LLC now owns 807 shares of the financial services provider’s stock valued at $148,000 after purchasing an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. UBS Group restated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Barclays set a $182.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Down 1.0%

Shares of NYSE ICE opened at $173.34 on Wednesday. The firm’s 50-day moving average is $162.81 and its two-hundred day moving average is $166.94. The company has a market capitalization of $98.84 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.17 and a beta of 1.03. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $157.96, for a total transaction of $584,452.00. Following the transaction, the director owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the sale, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 166,068 shares of company stock valued at $25,470,702. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.