123,592 Shares in Intercontinental Exchange Inc. $ICE Purchased by Commerce Bank

Commerce Bank acquired a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 123,592 shares of the financial services provider’s stock, valued at approximately $15,215,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ICONIQ Capital LLC lifted its holdings in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after acquiring an additional 56 shares during the period. Mission Wealth Management LP boosted its position in shares of Intercontinental Exchange by 2.4% during the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 62 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after acquiring an additional 63 shares during the last quarter. Johnson Financial Group LLC increased its stake in Intercontinental Exchange by 4.0% in the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 65 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 68 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent analyst reports. UBS Group restated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Morgan Stanley decreased their price target on 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. The Goldman Sachs Group lowered their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $161.29 on Friday. The business has a 50 day moving average of $142.34 and a 200-day moving average of $151.69. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $90.55 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.58 and a beta of 0.92.

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

Insider Activity at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,200 shares of company stock valued at $3,035,385 in the last quarter. Insiders own 0.84% of the company’s stock.

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.