Mill Capital Management LLC Acquires Shares of 156,719 Intercontinental Exchange Inc. $ICE

Mill Capital Management LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 156,719 shares of the financial services provider’s stock, valued at approximately $19,294,000. Intercontinental Exchange accounts for 1.3% of Mill Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. ICONIQ Capital LLC grew its stake in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the period. Mission Wealth Management LP lifted its stake in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after buying an additional 62 shares during the period. Evergreen Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares during the last quarter. Johnson Financial Group LLC boosted its holdings in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after buying an additional 65 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its position in shares of Intercontinental Exchange by 33.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock worth $42,000 after buying an additional 68 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ICE shares. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, The Goldman Sachs Group reduced their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Stock Down 0.4%

Shares of Intercontinental Exchange stock opened at $154.55 on Friday. The company has a market capitalization of $86.76 billion, a P/E ratio of 21.83, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. 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 business has a 50-day moving average of $140.59 and a two-hundred day moving average of $152.26. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $182.86.

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, 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 transaction of $100,903.76. Following the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 20,725 shares of company stock worth $3,115,124 in the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange 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.