Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Prudential PLC

Prudential PLC lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 16.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,246 shares of the financial services provider’s stock after purchasing an additional 1,705 shares during the period. Prudential PLC’s holdings in Intercontinental Exchange were worth $1,676,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $25,000. Annapolis Financial Services LLC raised its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the 1st quarter worth approximately $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays upped their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, Citigroup increased their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Trading Down 1.3 %

Shares of NYSE:ICE opened at $159.93 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $91.73 billion, a PE ratio of 36.68, a P/E/G ratio of 2.82 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The firm has a fifty day moving average price of $153.39 and a 200 day moving average price of $141.67.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $1.43 EPS. The firm’s revenue was up 22.7% on a year-over-year basis. Analysts expect that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 67,096 shares of company stock worth $9,593,983 over the last 90 days. Insiders own 1.10% of the company’s stock.

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.