First Washington CORP Has $7.14 Million Holdings in Intercontinental Exchange Inc. $ICE

First Washington CORP grew its position in Intercontinental Exchange Inc. (NYSE:ICE) by 53.0% in the first quarter, Holdings Channel reports. The fund owned 45,404 shares of the financial services provider’s stock after acquiring an additional 15,722 shares during the quarter. Intercontinental Exchange accounts for 2.0% of First Washington CORP’s portfolio, making the stock its 15th largest holding. First Washington CORP’s holdings in Intercontinental Exchange were worth $7,141,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Steph & Co. grew its holdings in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 89 shares during the last quarter. Swiss RE Ltd. acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Brooklands Fund Management Ltd bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $28,000. Finally, Dorato Capital Management acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.5%

ICE opened at $143.19 on Friday. The company has a market cap of $80.98 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 1.48 and a beta of 0.94. The company has a fifty day moving average price of $139.67 and a two-hundred day moving average price of $154.14. 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 Inc. has a 1-year low of $121.79 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period last year, the firm earned $1.72 earnings per share. Analysts predict that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,425 shares of company stock worth $2,046,324. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays lowered their target price on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Piper Sandler reduced their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. TD Cowen decreased their target price on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Morgan Stanley lowered their price target 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. Finally, Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.58.

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.