Compass Capital Management Inc. Buys New Stake in Intercontinental Exchange Inc. $ICE

Compass Capital Management Inc. purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 352,925 shares of the financial services provider’s stock, valued at approximately $43,449,000. Intercontinental Exchange accounts for approximately 2.6% of Compass Capital Management Inc.’s holdings, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ICONIQ Capital LLC boosted its holdings in Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mission Wealth Management LP grew its stake in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after buying an additional 65 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.1%

NYSE ICE opened at $154.55 on Monday. The stock has a fifty day moving average of $140.59 and a 200-day moving average of $152.10. The stock has a market capitalization of $86.76 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $182.86. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 20,725 shares of company stock valued at $3,115,124. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. TD Cowen reissued a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Piper Sandler lowered their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Company 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.