Tandem Investment Advisors Inc. Raises Holdings in Intercontinental Exchange Inc (ICE)

Tandem Investment Advisors Inc. raised its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 139,595 shares of the financial services provider’s stock after purchasing an additional 4,154 shares during the quarter. Intercontinental Exchange comprises 3.4% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 13th largest holding. Tandem Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $9,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Intercontinental Exchange by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 40,162,938 shares of the financial services provider’s stock valued at $2,647,541,000 after purchasing an additional 844,270 shares in the last quarter. BlackRock Inc. boosted its stake in Intercontinental Exchange by 1.1% during the 2nd quarter. BlackRock Inc. now owns 35,446,221 shares of the financial services provider’s stock valued at $2,336,613,000 after purchasing an additional 396,042 shares in the last quarter. Northern Trust Corp boosted its stake in Intercontinental Exchange by 19.9% during the 2nd quarter. Northern Trust Corp now owns 11,355,251 shares of the financial services provider’s stock valued at $748,538,000 after purchasing an additional 1,883,432 shares in the last quarter. Carmignac Gestion boosted its stake in Intercontinental Exchange by 0.4% during the 2nd quarter. Carmignac Gestion now owns 10,375,555 shares of the financial services provider’s stock valued at $683,957,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 14.6% during the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock valued at $712,683,000 after purchasing an additional 1,325,290 shares in the last quarter. 89.96% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Inc (ICE) traded up $0.27 on Tuesday, hitting $73.12. The stock had a trading volume of 1,952,000 shares, compared to its average volume of 2,929,360. The stock has a market capitalization of $43,300.00, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.29 and a beta of 0.70. Intercontinental Exchange Inc has a one year low of $55.80 and a one year high of $73.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Intercontinental Exchange had a return on equity of 11.01% and a net margin of 27.91%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. equities analysts expect that Intercontinental Exchange Inc will post 2.95 earnings per share for the current year.

Intercontinental Exchange announced that its Board of Directors has initiated a stock buyback program on Thursday, November 2nd that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

In other news, insider Dean S. Mathison sold 2,570 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total value of $179,308.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean Marc Forneri sold 8,000 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total value of $565,440.00. The disclosure for this sale can be found here. Insiders sold 30,570 shares of company stock valued at $2,140,724 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

ICE has been the subject of a number of research reports. Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Wells Fargo & Co raised their price objective on Intercontinental Exchange from $65.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Barclays raised their price objective on Intercontinental Exchange from $72.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada raised their price objective on Intercontinental Exchange from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Monday, October 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $75.40.

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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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