7,457 Shares in Intercontinental Exchange Inc. $ICE Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 7,457 shares of the financial services provider’s stock, valued at approximately $918,000.

Other institutional investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP increased its stake in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $714,869,000. Viking Global Investors LP acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $777,926,000. Finally, Bank of New York Mellon Corp bought a new stake in Intercontinental Exchange in the second quarter worth $379,968,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 1.3%

Shares of Intercontinental Exchange stock opened at $156.30 on Wednesday. The company’s fifty day simple moving average is $141.20 and its 200-day simple moving average is $151.86. The company has a market cap of $87.75 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.52 and a beta of 0.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $181.72.

Intercontinental Exchange (NYSE:ICE) 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. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the company earned $1.81 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.11 EPS for the current year.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the transaction, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,376 shares of company stock worth $2,746,946. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reissued a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, TD Cowen restated a “buy” rating and issued a $177.00 target price (up from $159.00) 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 assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Company Profile

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.