Intercontinental Exchange Inc. $ICE Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 209.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,627 shares of the financial services provider’s stock after purchasing an additional 3,806 shares during the period. Parkside Financial Bank & Trust’s holdings in Intercontinental Exchange were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brown Lisle Cummings Inc. increased its holdings in shares of Intercontinental Exchange by 1.2% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 68,536 shares of the financial services provider’s stock worth $8,437,000 after acquiring an additional 792 shares during the period. California State Teachers Retirement System lifted its position in Intercontinental Exchange by 11,968.7% in the 2nd quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider’s stock valued at $13,342,784,000 after purchasing an additional 107,482,962 shares during the last quarter. Saudi Central Bank boosted its stake in Intercontinental Exchange by 88.4% during the 2nd quarter. Saudi Central Bank now owns 39,650 shares of the financial services provider’s stock valued at $4,881,000 after purchasing an additional 18,604 shares during the period. NBH Bank acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $751,000. Finally, AlphaGrep UK Ltd bought a new position in Intercontinental Exchange in the 2nd quarter worth about $889,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $160.00, for a total value of $256,000.00. Following the sale, the senior vice president directly owned 17,463 shares in the company, valued at approximately $2,794,080. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the transaction, the insider owned 14,367 shares of the company’s stock, valued at approximately $2,307,196.53. This trade represents a 25.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 40,912 shares of company stock valued at $6,403,616. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. TD Cowen reissued a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. UBS Group restated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Barclays reaffirmed an “overweight” rating and set a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $184.17.

Intercontinental Exchange Price Performance

NYSE ICE opened at $157.67 on Wednesday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $176.59. The firm has a market capitalization of $88.51 billion, a PE ratio of 22.27, a P/E/G ratio of 1.57 and a beta of 0.93. The company’s 50 day simple moving average is $149.58 and its 200 day simple moving average is $151.68. 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 (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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.