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

Mill Capital Management LLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,066 shares of the financial services provider’s stock after purchasing an additional 3,347 shares during the period. Intercontinental Exchange comprises about 1.6% of Mill Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Mill Capital Management LLC’s holdings in Intercontinental Exchange were worth $24,335,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ICE. BlackRock Inc. acquired a new position in Intercontinental Exchange in the second quarter valued at about $6,245,085,000. State Street Corp grew its stake in Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after buying an additional 415,490 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 16.1% during the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after buying an additional 1,634,385 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $714,869,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intercontinental Exchange by 1.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,298,162 shares of the financial services provider’s stock worth $652,257,000 after buying an additional 52,910 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group reduced their target price on Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Morgan Stanley increased their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a research report on Friday, October 9th. Argus lowered their target price on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $186.31.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $159.92 on Tuesday. The company has a market cap of $89.78 billion, a PE ratio of 21.22, a PEG ratio of 1.50 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $176.05. The company’s 50-day moving average is $157.12 and its two-hundred day moving average is $154.70.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.81 EPS. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction 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 owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel owned 43,065 shares of the company’s stock, valued at $6,966,625.05. The trade was a 9.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 41,179 shares of company stock valued at $6,473,715. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Profile

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.