NTV Asset Management LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,578 shares of the financial services provider’s stock, valued at approximately $1,000,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Intercontinental Exchange during the second quarter valued at $6,245,085,000. State Street Corp lifted its stake in Intercontinental Exchange by 1.6% in the 2nd quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares in the last quarter. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after purchasing an additional 1,634,385 shares in the last quarter. Amundi lifted its stake in Intercontinental Exchange by 49.6% in the 1st quarter. Amundi now owns 4,997,079 shares of the financial services provider’s stock worth $785,941,000 after purchasing an additional 1,656,220 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $714,869,000. Institutional investors own 89.30% of the company’s stock.
Intercontinental Exchange Stock Performance
NYSE:ICE opened at $162.73 on Monday. The firm has a market capitalization of $91.36 billion, a PE ratio of 22.98, a PEG ratio of 1.50 and a beta of 0.94. The stock’s fifty day moving average is $157.26 and its 200 day moving average is $150.78. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $176.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.20 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Martha Tirinnanzi sold 1,340 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $161.16, for a total value of $215,954.40. Following the sale, the director owned 3,747 shares of the company’s stock, valued at approximately $603,866.52. This represents a 26.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the sale, the senior vice president owned 15,863 shares of the company’s stock, valued at $2,538,080. This trade represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 41,179 shares of company stock valued at $6,473,715. 0.84% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Argus cut their price objective on Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a research report on Friday, August 14th. UBS Group reaffirmed a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Wells Fargo & Company reiterated an “underweight” rating and issued a $160.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 14th. Barclays reissued an “overweight” rating and set a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Finally, TD Cowen increased their price target on Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.31.
Read Our Latest Research Report on Intercontinental Exchange
Intercontinental Exchange Profile
Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.
ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.
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