Lansforsakringar Fondforvaltning AB publ raised its position in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 25.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,038 shares of the financial services provider’s stock after buying an additional 46,617 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Intercontinental Exchange were worth $36,023,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after purchasing an additional 413,639 shares in the last quarter. J. Stern & Co. LLP grew its stake in shares of Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares in the last quarter. State Street Corp increased its holdings in shares of Intercontinental Exchange by 3.4% in the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the last quarter. Morgan Stanley raised its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after buying an additional 4,067,922 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on ICE shares. TD Cowen dropped their target price on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a report on Monday, June 22nd. Barclays restated an “overweight” rating and issued a $201.00 price target (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price objective on the stock. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Finally, Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $189.36.
Insider Activity
In other news, CFO Warren Gardiner sold 2,490 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the sale, the chief financial officer directly owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction that occurred on 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 represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by insiders.
Intercontinental Exchange Stock Down 0.9%
Shares of Intercontinental Exchange stock opened at $122.76 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $69.42 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.16 and a beta of 0.92. The firm’s 50-day moving average is $147.11 and its two-hundred day moving average is $157.36. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $1.72 EPS. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current fiscal year.
About Intercontinental Exchange
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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