Intercontinental Exchange Inc. $ICE Shares Purchased by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. increased its stake in Intercontinental Exchange Inc. by 2.5% in Q2, holding 245,023 shares valued at approximately $44.95 million.
• Insider transactions reported significant sales, including 2,900 shares sold by Director Judith A. Sprieser and 10,082 shares by CTO Mayur Kapani, indicating a decrease in their respective holdings.
• Equities analysts remain positive, with UBS and Raymond James Financial upgrading their price targets to $210.00, while the company is projected to report earnings of $6.73 per share for the fiscal year.

Asset Management One Co. Ltd. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 245,023 shares of the financial services provider's stock after acquiring an additional 6,079 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Intercontinental Exchange were worth $44,954,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Advisors Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 25.0% in the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider's stock worth $341,000 after acquiring an additional 396 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth $349,000. Sequoia Financial Advisors LLC grew its stake in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock worth $2,099,000 after acquiring an additional 1,879 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Intercontinental Exchange by 6.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider's stock worth $11,927,000 after acquiring an additional 4,107 shares in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Intercontinental Exchange in the second quarter worth $1,075,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,900 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director directly owned 18,169 shares of the company's stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of the firm's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,162 shares of company stock worth $43,642,652. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE:ICE opened at $157.71 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $168.26 and its two-hundred day moving average is $173.41. The company has a market cap of $90.28 billion, a PE ratio of 30.27, a P/E/G ratio of 2.20 and a beta of 1.08. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company's revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ICE shares. UBS Group boosted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an "outperform" rating to a "strong-buy" rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a "moderate buy" rating in a research note on Monday, October 6th. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $188.00 to $178.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $198.60.

About Intercontinental Exchange

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.

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