Assenagon Asset Management S.A. increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 478.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,030 shares of the financial services provider's stock after buying an additional 410,305 shares during the period. Assenagon Asset Management S.A. owned about 0.09% of Intercontinental Exchange worth $61,066,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Ares Financial Consulting LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Brooklands Fund Management Ltd purchased a new position in Intercontinental Exchange in the fourth quarter worth $28,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Steph & Co. boosted its position in shares of Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $30,000. 89.30% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on ICE. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. UBS Group restated a "buy" rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Morgan Stanley decreased 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 research report on Friday, July 10th. TD Cowen reiterated a "buy" rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $183.33.
Check Out Our Latest Stock Report on Intercontinental Exchange
Insider Transactions at Intercontinental Exchange
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sharon Bowen sold 667 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares of the company's stock, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,725 shares of company stock valued at $3,133,148 over the last quarter. Insiders own 0.84% of the company's stock.
Intercontinental Exchange Stock Performance
NYSE ICE opened at $150.35 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $84.40 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.48 and a beta of 0.92. The stock has a 50-day moving average of $139.52 and a two-hundred day moving average of $152.97. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $2.63 billion. During the same quarter in the prior year, the company earned $1.81 earnings per share. The business's quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.
Intercontinental Exchange Company Profile
(
Free Report)
Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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