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

M&G PLC grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares during the last quarter. CWM LLC increased its position in shares of Intercontinental Exchange by 3.7% during the 1st quarter. CWM LLC now owns 15,962 shares of the financial services provider’s stock worth $2,753,000 after purchasing an additional 563 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Intercontinental Exchange by 7.4% in the 1st quarter. Bleakley Financial Group LLC now owns 10,568 shares of the financial services provider’s stock valued at $1,823,000 after buying an additional 725 shares during the period. Apollon Wealth Management LLC increased its position in shares of Intercontinental Exchange by 4.9% during the first quarter. Apollon Wealth Management LLC now owns 18,914 shares of the financial services provider’s stock valued at $3,263,000 after acquiring an additional 878 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Intercontinental Exchange in the 1st quarter worth approximately $455,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 23,587 shares of company stock worth $3,989,936. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $154.00 on Thursday. 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 market capitalization 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. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company’s fifty day moving average is $161.05 and its two-hundred day moving average is $172.89.

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

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Morgan Stanley reduced their price objective on 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. Finally, 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 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $194.70.

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.