Watch Point Trust Co Acquires 5,670 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Watch Point Trust Co increased its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 19.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,086 shares of the financial services provider’s stock after acquiring an additional 5,670 shares during the period. Watch Point Trust Co’s holdings in Intercontinental Exchange were worth $3,015,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Lazard Asset Management LLC lifted its stake in shares of Intercontinental Exchange by 63.8% in the first quarter. Lazard Asset Management LLC now owns 12,800,711 shares of the financial services provider’s stock worth $974,645,000 after buying an additional 4,986,008 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Intercontinental Exchange by 107.1% in the first quarter. Artisan Partners Limited Partnership now owns 4,378,312 shares of the financial services provider’s stock worth $333,365,000 after buying an additional 2,264,702 shares in the last quarter. Investec Asset Management LTD bought a new position in shares of Intercontinental Exchange in the first quarter worth approximately $80,000,000. The Manufacturers Life Insurance Company lifted its stake in shares of Intercontinental Exchange by 85.4% in the first quarter. The Manufacturers Life Insurance Company now owns 1,307,224 shares of the financial services provider’s stock worth $99,532,000 after buying an additional 602,274 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in shares of Intercontinental Exchange by 91.9% in the second quarter. TD Asset Management Inc. now owns 1,021,707 shares of the financial services provider’s stock worth $87,806,000 after buying an additional 489,215 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the stock. Citigroup downgraded shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and upped their target price for the stock from $92.00 to $99.00 in a research note on Monday, July 22nd. Raymond James upped their target price on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, July 5th. Finally, ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $88.21.

In related news, Vice Chairman Charles A. Vice sold 20,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $82.29, for a total transaction of $1,645,800.00. Following the transaction, the insider now owns 426,771 shares in the company, valued at $35,118,985.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 53,166 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $81.26, for a total transaction of $4,320,269.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,966 shares of company stock worth $15,414,996. 1.50% of the stock is owned by insiders.

Intercontinental Exchange stock traded up $1.21 during midday trading on Thursday, reaching $90.48. 44,075 shares of the company traded hands, compared to its average volume of 2,087,544. The stock has a market cap of $50.76 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 2.93 and a beta of 0.50. The company’s 50 day simple moving average is $89.70. Intercontinental Exchange Inc has a 12 month low of $69.69 and a 12 month high of $93.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. Intercontinental Exchange had a net margin of 31.85% and a return on equity of 12.22%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc will post 3.78 earnings per share for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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

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