Commerce Bank boosted its position in Intercontinental Exchange Inc (NYSE:ICE) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,249 shares of the financial services provider’s stock after purchasing an additional 4,748 shares during the quarter. Commerce Bank’s holdings in Intercontinental Exchange were worth $6,157,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Intercontinental Exchange by 0.3% in the 4th quarter. State Street Corp now owns 24,518,530 shares of the financial services provider’s stock valued at $2,269,190,000 after purchasing an additional 85,241 shares during the period. Geode Capital Management LLC lifted its position in shares of Intercontinental Exchange by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 8,111,568 shares of the financial services provider’s stock valued at $749,203,000 after acquiring an additional 299,251 shares during the period. Veritas Asset Management LLP lifted its position in shares of Intercontinental Exchange by 53.6% during the 1st quarter. Veritas Asset Management LLP now owns 8,111,300 shares of the financial services provider’s stock valued at $654,987,000 after acquiring an additional 2,830,800 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Intercontinental Exchange by 7.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,896,539 shares of the financial services provider’s stock valued at $638,275,000 after acquiring an additional 466,102 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of Intercontinental Exchange by 12.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,534,983 shares of the financial services provider’s stock valued at $512,263,000 after acquiring an additional 632,387 shares during the period. Institutional investors and hedge funds own 90.40% of the company’s stock.
ICE has been the subject of a number of recent analyst reports. Goldman Sachs Group upgraded Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating and set a $90.00 target price for the company in a research report on Tuesday, March 24th. Berenberg Bank upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and upped their target price for the company from $101.00 to $106.00 in a research report on Monday, April 20th. Rosenblatt Securities reiterated a “buy” rating and set a $104.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 1st. Bank of America reissued a “buy” rating on shares of Intercontinental Exchange in a report on Tuesday, March 24th. Finally, Barclays boosted their price target on Intercontinental Exchange from $95.00 to $100.00 in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and an average price target of $102.21.
Shares of ICE opened at $93.77 on Friday. Intercontinental Exchange Inc has a 12-month low of $63.51 and a 12-month high of $101.93. The business has a 50-day simple moving average of $89.14 and a two-hundred day simple moving average of $91.10. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.33. The stock has a market cap of $50.82 billion, a PE ratio of 25.01, a PEG ratio of 2.54 and a beta of 0.54.
Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.04. Intercontinental Exchange had a return on equity of 13.85% and a net margin of 29.65%. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts expect that Intercontinental Exchange Inc will post 4.49 EPS for the current year.
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 175,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $87.22, for a total value of $15,263,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,991 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $91.26, for a total value of $364,218.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,223 shares of company stock valued at $19,123,431. Insiders own 1.50% of the company’s stock.
Intercontinental Exchange Profile
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.
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