Hartford Funds Management Co LLC Grows Stock Holdings in Intercontinental Exchange Inc. $ICE

Hartford Funds Management Co LLC raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 113.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,956 shares of the financial services provider’s stock after buying an additional 4,761 shares during the quarter. Hartford Funds Management Co LLC’s holdings in Intercontinental Exchange were worth $1,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ICE. Brighton Jones LLC lifted its stake in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after buying an additional 1,169 shares during the period. Empowered Funds LLC lifted its stake in shares of Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after buying an additional 1,189 shares during the period. Sivia Capital Partners LLC increased its holdings in Intercontinental Exchange by 16.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after buying an additional 289 shares during the period. NewEdge Advisors LLC increased its holdings in Intercontinental Exchange by 27.9% in the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after buying an additional 4,628 shares during the period. Finally, Treasurer of the State of North Carolina increased its holdings in Intercontinental Exchange by 2.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock worth $48,894,000 after buying an additional 6,373 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 3,865 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.73, for a total transaction of $594,166.45. Following the sale, the president directly owned 165,304 shares in the company, valued at $25,412,183.92. The trade was a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 335,106 shares of company stock worth $51,939,449. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ICE shares. UBS Group reiterated a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target on the stock. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Barclays reiterated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $194.10.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $156.08 on Tuesday. The stock has a market capitalization of $88.26 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.43 and a beta of 0.96. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The firm’s 50 day simple moving average is $159.10 and its 200-day simple moving average is $159.93. 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 issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.72 EPS. Analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

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.