iA Global Asset Management Inc. Buys 6,867 Shares of Intercontinental Exchange Inc. $ICE

iA Global Asset Management Inc. increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 237,738 shares of the financial services provider’s stock after purchasing an additional 6,867 shares during the quarter. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $43,618,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tredje AP fonden raised its stake in shares of Intercontinental Exchange by 41.7% during the second quarter. Tredje AP fonden now owns 173,390 shares of the financial services provider’s stock worth $31,812,000 after buying an additional 51,002 shares during the last quarter. MUFG Securities EMEA plc raised its stake in shares of Intercontinental Exchange by 107.9% during the second quarter. MUFG Securities EMEA plc now owns 120,599 shares of the financial services provider’s stock worth $22,126,000 after buying an additional 62,599 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Intercontinental Exchange by 51.8% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 255,402 shares of the financial services provider’s stock worth $46,859,000 after buying an additional 87,165 shares during the last quarter. Plato Investment Management Ltd raised its stake in shares of Intercontinental Exchange by 4.8% during the second quarter. Plato Investment Management Ltd now owns 16,587 shares of the financial services provider’s stock worth $3,032,000 after buying an additional 754 shares during the last quarter. Finally, Geneva Capital Management LLC raised its stake in shares of Intercontinental Exchange by 3.3% during the second quarter. Geneva Capital Management LLC now owns 144,323 shares of the financial services provider’s stock worth $26,479,000 after buying an additional 4,590 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ICE shares. TD Cowen dropped their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday. UBS Group dropped their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler boosted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.82.

Insider Buying and Selling

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This trade represents a 13.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 240,162 shares of company stock valued at $43,642,652. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 1.6%

Intercontinental Exchange stock opened at $146.10 on Friday. The stock has a market capitalization of $83.63 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $165.55 and a 200-day moving average of $173.50.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.55 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.