Intercontinental Exchange Inc. $ICE Shares Purchased by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 306.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,443 shares of the financial services provider’s stock after purchasing an additional 6,367 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Intercontinental Exchange were worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Holos Integrated Wealth LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Steph & Co. lifted its holdings in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 89 shares in the last quarter. Dorato Capital Management purchased a new position in Intercontinental Exchange in the 4th quarter valued at $29,000. Finally, Lloyd Advisory Services LLC. purchased a new position in Intercontinental Exchange in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ICE shares. Barclays restated an “overweight” rating and issued a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a report on Friday, May 1st. Morgan Stanley raised their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Keefe, Bruyette & Woods began coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 target price for the company. Weiss Ratings downgraded Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.60.

Intercontinental Exchange Stock Down 0.5%

Shares of NYSE:ICE opened at $141.36 on Friday. The business has a 50-day moving average price of $155.83 and a 200 day moving average price of $159.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $79.94 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the company earned $1.72 EPS. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. This trade represents a 4.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,001 shares of company stock valued at $1,847,820 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange 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.