Coronation Fund Managers Ltd. Has $1.99 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Coronation Fund Managers Ltd. decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,456 shares of the financial services provider’s stock after selling 5,507 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in Intercontinental Exchange were worth $1,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after acquiring an additional 1,012,034 shares in the last quarter. Wellington Management Group LLP increased its position in Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares in the last quarter. Capital World Investors increased its position in Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC increased its position in Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after buying an additional 1,621,737 shares in the last quarter. Finally, Norges Bank bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $839,259,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Barclays decreased their target price on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $151.43.

Insider Activity at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares in the company, valued at $565,442.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 62,895 shares of company stock worth $8,881,928. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded up $1.95 during midday trading on Wednesday, reaching $144.41. The company’s stock had a trading volume of 2,852,883 shares, compared to its average volume of 2,356,024. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $144.47. The firm has a 50 day moving average price of $135.81 and a 200-day moving average price of $133.74. The stock has a market capitalization of $82.83 billion, a P/E ratio of 32.67, a PEG ratio of 2.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current year.

About Intercontinental Exchange

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.