IFP Advisors Inc Increases Position in Intercontinental Exchange Inc. (ICE)

IFP Advisors Inc increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 62.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,224 shares of the financial services provider’s stock after buying an additional 5,493 shares during the period. IFP Advisors Inc’s holdings in Intercontinental Exchange were worth $938,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after buying an additional 33,898,484 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Intercontinental Exchange by 340.8% in the first quarter. OppenheimerFunds Inc. now owns 5,641,157 shares of the financial services provider’s stock worth $337,737,000 after buying an additional 4,361,480 shares in the last quarter. FMR LLC raised its stake in shares of Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Intercontinental Exchange during the first quarter worth $74,077,000. Institutional investors and hedge funds own 89.50% of the company’s stock.

Shares of Intercontinental Exchange Inc. (NYSE ICE) opened at 65.73 on Thursday. The stock has a 50 day moving average price of $65.76 and a 200 day moving average price of $61.39. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of 25.38 and a beta of 0.71.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities research analysts anticipate that Intercontinental Exchange Inc. will post $2.94 EPS for the current year.

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A number of equities research analysts have weighed in on ICE shares. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 target price on shares of Intercontinental Exchange in a research note on Monday, June 26th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 target price for the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $65.50 target price on shares of Intercontinental Exchange in a research note on Wednesday, April 12th. Deutsche Bank AG reiterated a “buy” rating and set a $66.00 target price (down from $67.00) on shares of Intercontinental Exchange in a research note on Monday, May 15th. Finally, Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $67.49.

In related news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the completion of the transaction, the insider now directly owns 382,471 shares in the company, valued at $25,598,784.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles A. Vice sold 15,000 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $66.33, for a total transaction of $994,950.00. Following the transaction, the insider now owns 384,971 shares of the company’s stock, valued at $25,535,126.43. The disclosure for this sale can be found here. Insiders have sold 166,389 shares of company stock valued at $10,279,500 over the last 90 days. 1.50% of the stock is currently owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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