Intercontinental Exchange Inc. $ICE Stock Bought by Mill Capital Management LLC

Mill Capital Management LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 2.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,066 shares of the financial services provider’s stock after acquiring an additional 3,347 shares during the period. Intercontinental Exchange makes up approximately 1.6% of Mill Capital Management LLC’s holdings, making the stock its 18th biggest holding. Mill Capital Management LLC’s holdings in Intercontinental Exchange were worth $24,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ICE. BlackRock Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter worth about $6,245,085,000. USS Investment Management Ltd boosted its stake in shares of Intercontinental Exchange by 37.2% during the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after buying an additional 256,851 shares during the last quarter. Lombard Odier Asset Management Europe Ltd bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $11,498,000. NBT Bank N.A. bought a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $1,775,000. Finally, Swedbank AB grew its holdings in shares of Intercontinental Exchange by 7.6% in the 1st quarter. Swedbank AB now owns 3,795,369 shares of the financial services provider’s stock valued at $596,936,000 after acquiring an additional 268,254 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. TD Cowen boosted their price target on Intercontinental Exchange from $166.00 to $167.00 and gave the stock a “hold” rating in a research report on Monday, October 12th. Bank of America upped their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Wells Fargo & Company reissued an “underweight” rating and issued a $160.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a report on Wednesday, October 14th. Finally, Weiss Ratings raised shares of Intercontinental Exchange from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.31.

Intercontinental Exchange Trading Down 1.7%

Shares of NYSE:ICE opened at $159.92 on Tuesday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $89.78 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.50 and a beta of 0.94. The company has a 50-day simple moving average of $157.12 and a 200 day simple moving average of $154.70.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current year.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the sale, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider owned 14,367 shares of the company’s stock, valued at $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 41,179 shares of company stock valued at $6,473,715. 0.84% of the stock is currently owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.