Korea Investment CORP purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm purchased 394,751 shares of the financial services provider’s stock, valued at approximately $48,598,000.
Several other large investors also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC purchased a new stake in Intercontinental Exchange during the second quarter valued at approximately $4,015,000. Rakuten Securities Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $26,000. Ieq Capital LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $1,029,000. Callan Family Office LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $3,264,000. Finally, Expressive Wealth LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $287,000. 89.30% of the stock is owned by institutional investors.
Intercontinental Exchange Stock Up 1.7%
NYSE:ICE opened at $161.29 on Friday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.65. The company has a 50-day moving average of $142.34 and a 200 day moving average of $151.69. The firm has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on ICE. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group reaffirmed a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.33.
Read Our Latest Stock Analysis on Intercontinental Exchange
Insider Activity
In related news, 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 transaction of $693,083.88. Following the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 20,200 shares of company stock valued at $3,035,385. 0.84% of the stock is currently owned by corporate insiders.
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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