Meeder Asset Management Inc. Has $10.44 Million Stake in Intercontinental Exchange Inc. $ICE

Meeder Asset Management Inc. grew its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 247.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,395 shares of the financial services provider’s stock after buying an additional 47,310 shares during the period. Meeder Asset Management Inc.’s holdings in Intercontinental Exchange were worth $10,443,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Ares Financial Consulting LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $28,000. Dorato Capital Management acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Swiss RE Ltd. acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, Steph & Co. raised its position in shares of Intercontinental Exchange by 104.7% in the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ICE shares. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. TD Cowen lowered their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Finally, Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.58.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $139.55 on Monday. The firm has a market capitalization of $78.92 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.44 and a beta of 0.94. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The business has a fifty day simple moving average of $140.83 and a 200 day simple moving average of $154.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the company earned $1.72 earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last 90 days. Company insiders own 0.84% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.