115,159 Shares in Intercontinental Exchange Inc. $ICE Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 115,159 shares of the financial services provider’s stock, valued at approximately $14,177,000.

Several other hedge funds also recently modified their holdings of the company. Mill Capital Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $19,294,000. SPWM Advisors LLC boosted its position in Intercontinental Exchange by 83.8% during the second quarter. SPWM Advisors LLC now owns 5,909 shares of the financial services provider’s stock worth $727,000 after acquiring an additional 2,694 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in Intercontinental Exchange by 3.6% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,805 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 165 shares during the period. Narwhal Capital Management grew its stake in Intercontinental Exchange by 18.6% in the 2nd quarter. Narwhal Capital Management now owns 61,878 shares of the financial services provider’s stock worth $7,618,000 after acquiring an additional 9,700 shares during the period. Finally, Legacy Advisors LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at $208,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wall Street Zen lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a research report on Friday, July 31st. Piper Sandler decreased their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Raymond James Financial set a $208.00 price objective on shares of Intercontinental Exchange in a research note on Monday, July 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. One equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $154.55 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $182.86. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $86.76 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The firm’s fifty day moving average price is $140.59 and its 200 day moving average price is $152.26.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company posted $1.81 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,725 shares of company stock valued at $3,115,124 in the last three months. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

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.