Clearbridge Investments LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Clearbridge Investments LLC grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,019,195 shares of the financial services provider’s stock after purchasing an additional 284,664 shares during the period. Clearbridge Investments LLC owned about 0.53% of Intercontinental Exchange worth $413,298,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. Capital World Investors increased its holdings in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Intercontinental Exchange by 303.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares during the last quarter. Finally, CCLA Investment Management increased its holdings in Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after buying an additional 1,113,079 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ICE shares. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays lifted their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada started coverage on shares of Intercontinental Exchange in a research note on Friday. They issued an “outperform” rating and a $200.00 target price for the company. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.47.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO James W. Namkung sold 1,043 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,316 shares of company stock valued at $9,835,609. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 1.3 %

ICE stock opened at $160.64 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $163.71. The company’s 50 day moving average price is $157.12 and its two-hundred day moving average price is $143.72. The company has a market capitalization of $92.14 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

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