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

Parkside Financial Bank & Trust raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 209.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,627 shares of the financial services provider’s stock after acquiring an additional 3,806 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Intercontinental Exchange were worth $693,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $6,245,085,000. USS Investment Management Ltd increased its position in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Walter Public Investments Inc. lifted its holdings in shares of Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at $11,498,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Martha Tirinnanzi sold 1,340 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total transaction of $215,954.40. Following the transaction, the director directly owned 3,747 shares in the company, valued at $603,866.52. This represents a 26.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the transaction, the senior vice president directly owned 17,463 shares of the company’s stock, valued at approximately $2,794,080. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,912 shares of company stock valued at $6,403,616 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Barclays reissued an “overweight” rating and set a $182.00 price target (up from $180.00) 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, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.17.

Intercontinental Exchange Price Performance

ICE stock opened at $157.67 on Wednesday. The stock’s 50 day moving average is $149.58 and its two-hundred day moving average is $151.68. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.59. The company 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 has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the business posted $1.81 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.