Intercontinental Exchange Inc. $ICE Shares Purchased by M&G PLC

M&G PLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 11.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 90,435 shares of the financial services provider’s stock after purchasing an additional 9,318 shares during the quarter. M&G PLC’s holdings in Intercontinental Exchange were worth $16,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ICE. Price T Rowe Associates Inc. MD boosted its stake in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares during the last quarter. Nuveen LLC acquired a new position in Intercontinental Exchange during the first quarter valued at approximately $575,383,000. Wellington Management Group LLP grew its stake in Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares during the period. C WorldWide Group Holding A S grew its stake in Intercontinental Exchange by 29,199.5% during the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after buying an additional 1,646,562 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Intercontinental Exchange by 31.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock worth $616,836,000 after acquiring an additional 861,679 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total value of $363,100.24. Following the transaction, the director owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,587 shares of company stock valued at $3,989,936. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $154.00 on Thursday. The stock’s 50 day simple moving average is $161.05 and its 200 day simple moving average is $172.89. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm has a market cap of $87.81 billion, a P/E ratio of 29.56, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business posted $1.55 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. TD Cowen decreased their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. UBS Group dropped their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. Finally, Barclays set a $183.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $194.70.

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.