4,236,515 Shares in Intercontinental Exchange Inc. $ICE Acquired by Bank of America Corp DE

Bank of America Corp DE purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,236,515 shares of the financial services provider's stock, valued at approximately $521,557,000. Bank of America Corp DE owned 0.75% of Intercontinental Exchange at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Brooklands Fund Management Ltd acquired a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Lloyd Advisory Services LLC. acquired a new position in Intercontinental Exchange in the 4th quarter worth about $30,000. Rakuten Securities Inc. bought a new position in Intercontinental Exchange during the second quarter valued at approximately $26,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Intercontinental Exchange by 71.8% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 244 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 102 shares during the last quarter. Finally, Gables Capital Management Inc. acquired a new stake in shares of Intercontinental Exchange in the second quarter worth about $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICE. TD Cowen restated a "buy" rating and set a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Wall Street Zen lowered shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research report on Saturday, September 5th. Barclays reiterated an "overweight" rating and issued a $182.00 price target (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $184.17.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Edmonds sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the transaction, the insider owned 14,367 shares of the company's stock, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the transaction, the general counsel directly owned 43,065 shares in the company, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,579 shares of company stock worth $6,217,715 in the last ninety days. Insiders own 0.84% of the company's stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $156.90 on Wednesday. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-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. The business has a 50 day simple moving average of $152.00 and a 200 day simple moving average of $151.73. The stock has a market cap of $88.08 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.53 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 EPS. Analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

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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