State Street Corp grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,966,680 shares of the financial services provider’s stock after purchasing an additional 415,490 shares during the period. State Street Corp owned approximately 4.63% of Intercontinental Exchange worth $3,196,758,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Capstone Financial Advisors Inc. increased its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Capstone Financial Advisors Inc. now owns 5,116 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 69 shares in the last quarter. Van Hulzen Asset Management LLC raised its position in shares of Intercontinental Exchange by 11.3% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 14,388 shares of the financial services provider’s stock worth $1,771,000 after purchasing an additional 1,460 shares during the last quarter. National Pension Service lifted its stake in Intercontinental Exchange by 3.5% in the 2nd quarter. National Pension Service now owns 1,173,317 shares of the financial services provider’s stock valued at $144,447,000 after buying an additional 39,430 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $4,703,000. Finally, Engineers Gate Manager LP increased its position in Intercontinental Exchange by 86.5% during the second quarter. Engineers Gate Manager LP now owns 136,793 shares of the financial services provider’s stock worth $16,841,000 after buying an additional 63,456 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at approximately $10,279,785.60. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the transaction, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. The trade was a 9.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 41,179 shares of company stock worth $6,473,715. Corporate insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Down 1.5%
Shares of NYSE ICE opened at $152.97 on Wednesday. The stock has a market capitalization of $85.87 billion, a PE ratio of 21.61, a P/E/G ratio of 1.51 and a beta of 0.93. 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 firm has a fifty day moving average of $153.78 and a 200-day moving average of $151.37. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $176.05.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $1.81 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.
Analyst Ratings Changes
ICE has been the subject of a number of analyst reports. Piper Sandler cut their price target on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. UBS Group reiterated a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price objective on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.17.
Read Our Latest Stock Report on ICE
About Intercontinental Exchange
Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.
ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.
Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.
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