Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 237,764 shares of the financial services provider’s stock after acquiring an additional 4,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intercontinental Exchange were worth $38,194,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $124,508,000. James Hambro & Partners bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $93,340,000. Assenagon Asset Management S.A. lifted its stake in shares of Intercontinental Exchange by 426.3% in 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 purchasing an additional 584,400 shares during the period. Finally, Samlyn Capital LLC boosted its position in shares of Intercontinental Exchange by 142.2% during the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after purchasing an additional 490,671 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $161.19 on Friday. The stock has a 50-day moving average price of $160.59 and a 200 day moving average price of $151.66. The stock has a market capitalization of $92.55 billion, a P/E ratio of 38.20, a P/E/G ratio of 2.64 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate 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 company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock valued at $1,554,559 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research note on Monday, October 14th. Bank of America boosted their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Company 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.