Chiron Investment Management LLC Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Chiron Investment Management LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,992 shares of the financial services provider’s stock after purchasing an additional 1,768 shares during the quarter. Intercontinental Exchange makes up about 2.7% of Chiron Investment Management LLC’s holdings, making the stock its 15th biggest holding. Chiron Investment Management LLC’s holdings in Intercontinental Exchange were worth $7,549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in shares of Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after buying an additional 3,460,096 shares during the period. FMR LLC grew its position in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the period. Two Sigma Advisers LP grew its position in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after buying an additional 1,301,200 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Intercontinental Exchange by 426.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares during the period. Finally, Samlyn Capital LLC boosted its stake in Intercontinental Exchange by 142.2% in the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after purchasing an additional 490,671 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays upped their price target on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler upped their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, Bank of America upped their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.07.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,946 shares of company stock worth $1,433,486 in the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $158.44 on Wednesday. The company’s 50-day simple moving average is $160.29 and its two-hundred day simple moving average is $152.89. Intercontinental Exchange, Inc. has a 52-week low of $113.87 and a 52-week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $90.97 billion, a P/E ratio of 37.55, a P/E/G ratio of 2.58 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange 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.