TD Asset Management Inc decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 48.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 247,793 shares of the financial services provider's stock after selling 236,624 shares during the quarter. TD Asset Management Inc's holdings in Intercontinental Exchange were worth $45,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Price T Rowe Associates Inc. MD raised its holdings in Intercontinental Exchange by 491.3% during the 1st 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 acquiring an additional 5,345,388 shares during the period. Nuveen LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at $575,383,000. Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after acquiring an additional 3,165,381 shares during the period. Bank of New York Mellon Corp raised its holdings in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after acquiring an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Intercontinental Exchange by 31.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider's stock valued at $616,836,000 after acquiring an additional 861,679 shares during the period. Institutional investors own 89.30% of the company's stock.
Intercontinental Exchange Stock Down 2.6%
Shares of NYSE:ICE opened at $153.29 on Friday. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The firm has a fifty day moving average of $171.52 and a 200 day moving average of $173.64. The firm has a market capitalization of $87.75 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. 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 (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company 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 earned $1.52 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.
Insider Buying and Selling
In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,900 shares of the company'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 sale, the director owned 18,169 shares of the company's stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock valued at $43,789,542 in the last three months. 1.00% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Barclays reaffirmed an "overweight" rating and issued a $201.00 price target (down previously from $212.00) on shares of Intercontinental Exchange in a report on Wednesday, October 8th. UBS Group upped their price target 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Finally, Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $199.60.
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About Intercontinental Exchange
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Free Report)
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.
See Also
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