Russell Investments Group Ltd. Boosts Stock Holdings in Intercontinental Exchange Inc. $ICE

Russell Investments Group Ltd. raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.8% during the second quarter, HoldingsChannel reports. The fund owned 659,065 shares of the financial services provider’s stock after purchasing an additional 47,617 shares during the quarter. Russell Investments Group Ltd.’s holdings in Intercontinental Exchange were worth $120,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $28,000. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the second quarter worth $29,000. McClarren Financial Advisors Inc. bought a new position in Intercontinental Exchange during the 1st quarter worth approximately $30,000. Finally, Hilltop National Bank purchased a new position in shares of Intercontinental Exchange in the second quarter worth $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ICE. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. TD Cowen decreased their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.70.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 1,572 shares of the business’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the sale, the chief financial officer directly owned 20,534 shares in the company, valued at approximately $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total value of $22,962,000.00. Following the transaction, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 170,944 shares of company stock valued at $26,338,174. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 0.3%

ICE opened at $156.46 on Thursday. The stock has a market cap of $89.21 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day moving average is $157.04 and its 200 day moving average is $171.56. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.