State Street Corp boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 25,653,952 shares of the financial services provider’s stock after buying an additional 837,208 shares during the period. State Street Corp’s holdings in Intercontinental Exchange were worth $4,154,914,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in Intercontinental Exchange by 29.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,602,921 shares of the financial services provider’s stock worth $583,537,000 after purchasing an additional 814,680 shares during the period. Boston Family Office LLC grew its holdings in Intercontinental Exchange by 27.0% in the fourth quarter. Boston Family Office LLC now owns 2,165 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 460 shares during the period. First National Bank of Omaha grew its holdings in Intercontinental Exchange by 0.3% in the fourth quarter. First National Bank of Omaha now owns 43,423 shares of the financial services provider’s stock worth $7,033,000 after purchasing an additional 115 shares during the period. Boston Partners grew its holdings in Intercontinental Exchange by 148.6% in the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after purchasing an additional 1,914,851 shares during the period. Finally, Milford Funds Ltd. acquired a new stake in Intercontinental Exchange in the fourth quarter worth $25,116,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ICE has been the subject of a number of research reports. Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a report on Thursday. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $193.00.
Insider Buying and Selling at Intercontinental Exchange
In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,092 shares of company stock worth $1,860,424 in the last quarter. 0.84% of the stock is owned by insiders.
Intercontinental Exchange Price Performance
Shares of NYSE ICE opened at $140.26 on Friday. Intercontinental Exchange Inc. has a fifty-two week low of $136.67 and a fifty-two week high of $189.35. The stock has a market cap of $79.32 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.33 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day simple moving average is $154.22 and its 200 day simple moving average is $159.27.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings results 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. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the firm earned $1.72 EPS. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current fiscal year.
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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