Port Capital LLC Acquires 3,088 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Port Capital LLC grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the third quarter, HoldingsChannel reports. The fund owned 379,576 shares of the financial services provider’s stock after acquiring an additional 3,088 shares during the quarter. Intercontinental Exchange comprises about 2.7% of Port Capital LLC’s holdings, making the stock its 15th largest position. Port Capital LLC’s holdings in Intercontinental Exchange were worth $60,975,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Prana Capital Management LP grew its stake in Intercontinental Exchange by 63.1% during the 3rd quarter. Prana Capital Management LP now owns 385,570 shares of the financial services provider’s stock worth $61,938,000 after buying an additional 149,103 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Intercontinental Exchange by 3.7% during the third quarter. Motley Fool Asset Management LLC now owns 23,108 shares of the financial services provider’s stock worth $3,724,000 after acquiring an additional 822 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Intercontinental Exchange by 13.8% during the third quarter. IHT Wealth Management LLC now owns 2,063 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 250 shares in the last quarter. Ingalls & Snyder LLC raised its position in shares of Intercontinental Exchange by 1.9% in the 3rd quarter. Ingalls & Snyder LLC now owns 48,481 shares of the financial services provider’s stock valued at $7,788,000 after purchasing an additional 893 shares during the last quarter. Finally, Investment Management Corp of Ontario boosted its stake in Intercontinental Exchange by 48.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 19,010 shares of the financial services provider’s stock worth $3,054,000 after purchasing an additional 6,200 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $156.26 on Wednesday. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The firm has a market cap of $89.72 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The company’s 50-day moving average is $160.53 and its two-hundred day moving average is $152.34. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

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

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,696 shares of company stock worth $1,554,559. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. TD Cowen initiated coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Finally, Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

About Intercontinental Exchange

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.