Intercontinental Exchange Inc. $ICE Stake Increased by DAVENPORT & Co LLC

Key Points

• DAVENPORT & Co LLC increased its stake in Intercontinental Exchange by 0.2%, owning 731,075 shares valued at approximately $133.8 million at the end of the last reporting period.
• Institutional investors and hedge funds collectively own 89.30% of Intercontinental Exchange stock, indicating strong support from large investors.
• Analysts have set an average price target of $198.20 for Intercontinental Exchange, with multiple firms reiterating buy ratings and adjusting their price targets upward.

DAVENPORT & Co LLC boosted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 731,075 shares of the financial services provider's stock after acquiring an additional 1,753 shares during the period. DAVENPORT & Co LLC owned 0.13% of Intercontinental Exchange worth $133,847,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after purchasing an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after buying an additional 5,345,388 shares in the last quarter. Amundi raised its stake in Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock valued at $1,060,574,000 after buying an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in Intercontinental Exchange by 0.5% during the 1st quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock worth $1,068,193,000 after buying an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares of the company's stock, valued at $8,255,430.69. The trade was a 7.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ICE shares. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. UBS Group increased their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an "overweight" rating in a research report on Thursday, September 25th. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 1st. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average price target of $198.20.

Intercontinental Exchange Stock Up 0.9%

Intercontinental Exchange stock opened at $162.47 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a 50-day simple moving average of $176.53 and a 200-day simple moving average of $174.67. The firm has a market capitalization of $93.00 billion, a P/E ratio of 31.18, a P/E/G ratio of 1.98 and a beta of 1.08.

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

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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