Korea Investment CORP Acquires 13,221 Shares of Intercontinental Exchange Inc. $ICE

Korea Investment CORP boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 442,532 shares of the financial services provider’s stock after acquiring an additional 13,221 shares during the quarter. Korea Investment CORP owned 0.08% of Intercontinental Exchange worth $81,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Optivise Advisory Services LLC raised its holdings in shares of Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after buying an additional 54 shares in the last quarter. Tritonpoint Wealth LLC grew its position in Intercontinental Exchange by 1.4% in the second quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock valued at $798,000 after acquiring an additional 58 shares during the period. SBI Securities Co. Ltd. raised its stake in Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 58 shares in the last quarter. RB Capital Management LLC raised its stake in Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 59 shares in the last quarter. Finally, Chemistry Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 0.8% during the second quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider’s stock valued at $1,440,000 after acquiring an additional 60 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ICE shares. UBS Group lowered their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, TD Cowen dropped their price target on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Stock Up 0.3%

NYSE ICE opened at $156.46 on Thursday. The stock has a market capitalization of $89.21 billion, a P/E ratio of 30.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $157.04 and a 200-day moving average of $171.56.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.55 earnings per share. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $151.00, for a total transaction of $314,231.00. Following the completion of the sale, the general counsel directly owned 44,212 shares of the company’s stock, valued at $6,676,012. The trade was a 4.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 170,944 shares of company stock worth $26,338,174. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.