Kirtland Hills Capital Management LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Kirtland Hills Capital Management LLC lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,112 shares of the financial services provider’s stock after purchasing an additional 213 shares during the quarter. Intercontinental Exchange accounts for about 1.0% of Kirtland Hills Capital Management LLC’s holdings, making the stock its 17th largest holding. Kirtland Hills Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. lifted its position in Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after buying an additional 66 shares in the last quarter. American National Bank increased its holdings in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 6.57 % 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, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. The trade was a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last 90 days. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE ICE opened at $157.93 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The stock has a market capitalization of $90.68 billion, a P/E ratio of 37.42, a PEG ratio of 2.57 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $160.81 and its two-hundred day moving average price is $150.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.