PCM Encore LLC Purchases Shares of 3,466 Intercontinental Exchange Inc. $ICE

PCM Encore LLC purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,466 shares of the financial services provider’s stock, valued at approximately $427,000.

Several other hedge funds also recently made changes to their positions in the business. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Brooklands Fund Management Ltd acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Swiss RE Ltd. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $30,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 2,491 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $156.30, for a total value of $389,343.30. Following the completion of the sale, the chief financial officer owned 22,698 shares of the company’s stock, valued at approximately $3,547,697.40. The trade was a 9.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 20,200 shares of company stock valued at $3,035,385. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Barclays reissued an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Raymond James Financial set a $208.00 price target on shares of Intercontinental Exchange in a report on Monday, July 6th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Stock Up 1.7%

ICE opened at $161.29 on Friday. The company has a market capitalization of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.56 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. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $181.65. The business has a 50-day moving average of $142.34 and a 200-day moving average of $151.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS 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 during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

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.