BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 60.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,681 shares of the financial services provider’s stock after purchasing an additional 41,129 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Intercontinental Exchange were worth $15,014,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Marshall Wace LLP boosted its stake in shares of Intercontinental Exchange by 14.8% in the second quarter. Marshall Wace LLP now owns 2,117,501 shares of the financial services provider’s stock worth $289,865,000 after acquiring an additional 273,003 shares during the period. Samlyn Capital LLC lifted its holdings 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. Resources Management Corp CT ADV boosted its stake in Intercontinental Exchange by 5.3% in the 2nd quarter. Resources Management Corp CT ADV now owns 3,852 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 195 shares during the period. Evergreen Capital Management LLC grew its holdings in Intercontinental Exchange by 8.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,772 shares of the financial services provider’s stock valued at $516,000 after buying an additional 289 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Intercontinental Exchange by 212.1% during the second quarter. Public Sector Pension Investment Board now owns 280,883 shares of the financial services provider’s stock valued at $38,450,000 after buying an additional 190,886 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $158.75 on Wednesday. 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 fifty day simple moving average of $156.26 and a two-hundred day simple moving average of $143.09. The stock has a market capitalization of $91.14 billion, a price-to-earnings ratio of 36.41, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71.

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

Insiders Place Their Bets

In related news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction 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 in the company, valued at approximately $2,202,819.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the completion of the sale, the insider now owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Insiders sold a total of 66,268 shares of company stock worth $9,508,809 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Company 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.