Fmr LLC Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Fmr LLC raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 44.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,846,421 shares of the financial services provider’s stock after buying an additional 2,401,630 shares during the period. Fmr LLC owned about 1.37% of Intercontinental Exchange worth $1,260,449,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ICE. Manning & Napier Advisors LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at $124,508,000. James Hambro & Partners purchased a new stake in Intercontinental Exchange during the 2nd quarter valued at $93,340,000. Assenagon Asset Management S.A. boosted its position in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after buying an additional 584,400 shares during the period. Samlyn Capital LLC boosted its position in Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after buying an additional 490,671 shares during the period. Finally, Perpetual Ltd boosted its position in Intercontinental Exchange by 25.2% during the 3rd quarter. Perpetual Ltd now owns 1,718,945 shares of the financial services provider’s stock valued at $276,131,000 after buying an additional 345,670 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,868 shares of company stock valued at $622,079 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on ICE shares. The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, November 1st. Barclays decreased their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Up 0.5 %

NYSE:ICE opened at $160.49 on Wednesday. The firm has a market cap of $92.15 billion, a P/E ratio of 38.03, a P/E/G ratio of 2.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The firm has a 50-day simple moving average of $160.55 and a two-hundred day simple moving average of $151.52.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.