Prudential PLC Boosts Stock Position in Intercontinental Exchange Inc. $ICE

Prudential PLC boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,265 shares of the financial services provider’s stock after acquiring an additional 9,226 shares during the quarter. Prudential PLC’s holdings in Intercontinental Exchange were worth $20,414,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Main Management ETF Advisors LLC lifted its position in shares of Intercontinental Exchange by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 5,864 shares of the financial services provider’s stock worth $1,076,000 after purchasing an additional 96 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $80,860,000. Quilter Plc acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $218,000. Artisan Partners Limited Partnership boosted its position in Intercontinental Exchange by 36.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 57,520 shares of the financial services provider’s stock valued at $10,553,000 after buying an additional 15,255 shares during the period. Finally, Empirical Finance LLC grew its stake in shares of Intercontinental Exchange by 1.7% in the second quarter. Empirical Finance LLC now owns 8,920 shares of the financial services provider’s stock worth $1,637,000 after acquiring an additional 150 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This trade represents a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,098 shares of company stock valued at $4,024,000 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 0.5%

Intercontinental Exchange stock opened at $153.56 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a 50 day moving average of $158.91 and a two-hundred day moving average of $172.32. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $87.56 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business earned $1.55 EPS. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. 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. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, TD Cowen reduced their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.