Canada Pension Plan Investment Board Purchases 331,574 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Canada Pension Plan Investment Board raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 253.5% in the second quarter, HoldingsChannel reports. The firm owned 462,350 shares of the financial services provider’s stock after acquiring an additional 331,574 shares during the period. Canada Pension Plan Investment Board’s holdings in Intercontinental Exchange were worth $63,291,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Intercontinental Exchange by 5.5% in the fourth quarter. Gilbert & Cook Inc. now owns 3,636 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 188 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 29.9% in the 4th quarter. 9258 Wealth Management LLC now owns 7,607 shares of the financial services provider’s stock worth $977,000 after purchasing an additional 1,752 shares during the period. Gryphon Financial Partners LLC boosted its stake in shares of Intercontinental Exchange by 38.9% during the fourth quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 1,220 shares in the last quarter. Assetmark Inc. increased its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock valued at $1,313,000 after buying an additional 86 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in Intercontinental Exchange by 70.2% during the fourth quarter. King Luther Capital Management Corp now owns 6,518 shares of the financial services provider’s stock valued at $837,000 after buying an additional 2,688 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays boosted their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Citigroup raised their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

Intercontinental Exchange Price Performance

NYSE ICE opened at $159.84 on Friday. The stock’s fifty day moving average price is $155.82 and its 200 day moving average price is $142.77. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $91.68 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The shares were 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 in the company, valued at $9,098,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,166 shares of company stock worth $9,768,190. Company insiders own 1.10% of the company’s stock.

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.