Resona Asset Management Co. Ltd. reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 3.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 176,794 shares of the financial services provider’s stock after selling 7,248 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Intercontinental Exchange were worth $28,700,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ICE. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC boosted its holdings in Intercontinental Exchange by 9.0% during the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 289 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock worth $3,892,000 after purchasing an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after purchasing an additional 6,373 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have commented on ICE. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research report on Friday, March 6th. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.10.
Intercontinental Exchange Price Performance
Shares of Intercontinental Exchange stock opened at $154.18 on Wednesday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $158.87 and a two-hundred day simple moving average of $159.96. The stock has a market capitalization of $87.19 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 1.44 and a beta of 0.96.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.72 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.
Insider Activity at Intercontinental Exchange
In other news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer owned 27,679 shares in the company, valued at approximately $4,262,566. This trade represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,956 shares of company stock worth $6,190,895 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
Intercontinental Exchange Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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