Findlay Park Partners LLP Invests $101.09 Million in Intercontinental Exchange Inc. $ICE

Findlay Park Partners LLP purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 821,169 shares of the financial services provider’s stock, valued at approximately $101,094,000.

A number of other institutional investors also recently modified their holdings of ICE. ICONIQ Capital LLC grew its stake in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares in the last quarter. Mission Wealth Management LP lifted its position in shares of Intercontinental Exchange by 2.4% during the fourth 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 boosted its holdings in shares of 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 worth $681,000 after acquiring an additional 63 shares during the period. Johnson Financial Group LLC boosted its holdings in shares of 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 worth $277,000 after acquiring an additional 65 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in shares of Intercontinental Exchange by 33.5% in 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 hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ICE. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday, June 11th. Barclays restated an “overweight” rating and issued a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $161.29 on Friday. The stock’s 50-day simple moving average is $142.34 and its two-hundred day simple moving average is $151.69. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $181.65. The firm 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. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued 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. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter last year, the company posted $1.81 EPS. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,491 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the transaction, the chief financial officer directly owned 22,698 shares in the company, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on 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 transaction, the chief technology officer directly owned 67,988 shares in the company, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 20,200 shares of company stock worth $3,035,385. Company insiders own 0.84% of the company’s stock.

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.