Northern Capital Management LLC Buys New Position in Intercontinental Exchange Inc. (ICE)

Northern Capital Management LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,575 shares of the financial services provider’s stock, valued at approximately $520,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Intercontinental Exchange by 1.3% in the 3rd quarter. Victory Capital Management Inc. now owns 423,250 shares of the financial services provider’s stock worth $29,077,000 after acquiring an additional 5,253 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $4,304,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Intercontinental Exchange by 9.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 238,347 shares of the financial services provider’s stock worth $16,374,000 after acquiring an additional 20,551 shares in the last quarter. First Business Financial Services Inc. grew its stake in shares of Intercontinental Exchange by 10.7% in the 3rd quarter. First Business Financial Services Inc. now owns 9,387 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 905 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its stake in shares of Intercontinental Exchange by 55.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,618 shares of the financial services provider’s stock worth $386,000 after acquiring an additional 2,012 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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Several equities analysts recently weighed in on ICE shares. Barclays PLC increased their price target on shares of Intercontinental Exchange from $72.00 to $78.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Royal Bank Of Canada increased their price target on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research report on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target for the company. BidaskClub lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 price objective (up from $70.00) on shares of Intercontinental Exchange in a report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Intercontinental Exchange currently has an average rating of “Buy” and an average target price of $72.33.

Intercontinental Exchange Inc. (ICE) traded up 0.15% on Wednesday, hitting $66.20. 265,898 shares of the company traded hands. The firm’s 50 day moving average price is $67.54 and its 200 day moving average price is $64.53. Intercontinental Exchange Inc. has a 1-year low of $52.52 and a 1-year high of $71.24. The firm has a market capitalization of $7.62 billion, a PE ratio of 24.53 and a beta of 0.74.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.75. Intercontinental Exchange had a return on equity of 10.80% and a net margin of 27.56%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned $0.69 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts predict that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.

In related news, insider Charles A. Vice sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $69.76, for a total value of $872,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Hill sold 37,630 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $70.03, for a total value of $2,635,228.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,050 shares of company stock worth $9,557,830. 1.50% of the stock is owned by insiders.

About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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

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