Flputnam Investment Management Co. Takes Position in Intercontinental Exchange Inc. $ICE

Flputnam Investment Management Co. purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 108,802 shares of the financial services provider’s stock, valued at approximately $13,395,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $25,000. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $28,000. Swiss RE Ltd. purchased a new position in Intercontinental Exchange during the fourth quarter worth about $28,000. Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange during the fourth quarter worth about $30,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $37,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Piper Sandler lowered their price objective on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. TD Cowen reissued a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total value of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 20,725 shares of company stock worth $3,115,124. Corporate insiders own 0.84% of the company’s stock.

Intercontinental Exchange Trading Down 0.1%

ICE opened at $154.55 on Monday. The business has a fifty day moving average price of $140.59 and a 200 day moving average price of $152.10. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $182.86. The stock has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.52 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.81 EPS. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

About Intercontinental Exchange

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.