Carnegie Investment Counsel Buys 4,117 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Carnegie Investment Counsel increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 28.7% in the 4th quarter, Holdings Channel reports. The firm owned 18,468 shares of the financial services provider’s stock after purchasing an additional 4,117 shares during the period. Carnegie Investment Counsel’s holdings in Intercontinental Exchange were worth $2,752,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in ICE. State Street Corp raised its position in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares during the period. Geode Capital Management LLC lifted its position in Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC increased its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,795 shares of company stock worth $2,120,572. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. Barclays lowered their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods cut their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $149.07 on Friday. The firm has a market capitalization of $85.59 billion, a P/E ratio of 35.33, a P/E/G ratio of 2.29 and a beta of 1.10. The stock has a fifty day moving average price of $153.35 and a two-hundred day moving average price of $155.44. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.06 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.