Guinness Asset Management Ltd Increases Stake in Intercontinental Exchange Inc (NYSE:ICE)

Guinness Asset Management Ltd boosted its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,100 shares of the financial services provider’s stock after acquiring an additional 5,610 shares during the quarter. Guinness Asset Management Ltd’s holdings in Intercontinental Exchange were worth $7,228,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Brandywine Oak Private Wealth LLC raised its position in Intercontinental Exchange by 3.6% in the second quarter. Brandywine Oak Private Wealth LLC now owns 3,247 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 113 shares during the period. HCR Wealth Advisors raised its holdings in shares of Intercontinental Exchange by 0.8% in the 2nd quarter. HCR Wealth Advisors now owns 14,559 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 113 shares during the period. Carroll Financial Associates Inc. raised its holdings in shares of Intercontinental Exchange by 51.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 360 shares of the financial services provider’s stock valued at $30,000 after buying an additional 122 shares during the period. CWM LLC raised its holdings in shares of Intercontinental Exchange by 6.4% in the 1st quarter. CWM LLC now owns 2,138 shares of the financial services provider’s stock valued at $163,000 after buying an additional 128 shares during the period. Finally, Chemical Bank raised its holdings in shares of Intercontinental Exchange by 0.5% in the 1st quarter. Chemical Bank now owns 27,993 shares of the financial services provider’s stock valued at $2,131,000 after buying an additional 129 shares during the period. Institutional investors own 89.04% of the company’s stock.

ICE has been the topic of several research analyst reports. Raymond James boosted their price objective on Intercontinental Exchange from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Friday, July 5th. Zacks Investment Research downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Citigroup downgraded Intercontinental Exchange from a “buy” rating to a “neutral” rating and upped their price target for the stock from $92.00 to $99.00 in a report on Monday, July 22nd. Bank of America set a $85.00 price target on Intercontinental Exchange and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, ValuEngine upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $88.21.

In other news, Vice Chairman Charles A. Vice sold 20,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $82.29, for a total transaction of $1,645,800.00. Following the completion of the transaction, the insider now directly owns 426,771 shares of the company’s stock, valued at approximately $35,118,985.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,490 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $89.53, for a total value of $222,929.70. Following the transaction, the general counsel now directly owns 41,516 shares of the company’s stock, valued at $3,716,927.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,525 shares of company stock valued at $14,014,576. Insiders own 1.50% of the company’s stock.

NYSE ICE traded up $1.51 during trading hours on Tuesday, hitting $89.93. 84,817 shares of the company were exchanged, compared to its average volume of 2,005,906. The company’s 50 day simple moving average is $88.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc has a 52-week low of $69.69 and a 52-week high of $92.31. The firm has a market capitalization of $49.67 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.50.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.22% and a net margin of 31.85%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the business earned $0.90 EPS. Intercontinental Exchange’s revenue was up 4.2% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc will post 3.77 EPS for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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