35,428 Shares in Intercontinental Exchange Inc. $ICE Bought by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 35,428 shares of the financial services provider’s stock, valued at approximately $4,362,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP raised its position in shares of Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $6,245,085,000. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $714,869,000. Finally, Flossbach Von Storch SE bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $649,900,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was 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 owned 22,698 shares in the company, valued at $3,547,697.40. This trade represents a 9.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the sale, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,227 shares of company stock worth $2,598,301 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 0.5%

NYSE:ICE opened at $161.19 on Friday. The company has a market cap of $90.49 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $177.76. The business has a 50 day moving average price of $144.32 and a two-hundred day moving average price of $151.43. 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 posted its quarterly earnings data 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 the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.81 earnings per share. As a group, analysts expect that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ICE. Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, UBS Group reaffirmed a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $183.33.

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.