C WorldWide Group Holding A S Raises Stock Position in Intercontinental Exchange Inc. $ICE

C WorldWide Group Holding A S boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 29,199.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,652,201 shares of the financial services provider’s stock after purchasing an additional 1,646,562 shares during the quarter. Intercontinental Exchange comprises 4.1% of C WorldWide Group Holding A S’s holdings, making the stock its 10th biggest position. C WorldWide Group Holding A S’s holdings in Intercontinental Exchange were worth $303,129,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at about $28,000. Activest Wealth Management increased its stake in Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the period. Westside Investment Management Inc. acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $29,000. McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange during the 1st quarter valued at about $30,000. Finally, Hilltop National Bank acquired a new position in Intercontinental Exchange during the 2nd quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company’s stock, valued at approximately $357,337,668.45. The trade was a 7.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 240,162 shares of company stock valued at $43,642,652. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ICE. UBS Group lowered their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price on the stock in a research note on Monday, October 13th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $191.82.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $146.38 on Thursday. The firm’s 50 day moving average is $163.62 and its 200-day moving average is $173.25. The stock has a market capitalization of $83.79 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. The company had revenue of $2.41 billion for 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 revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

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.