Vestmark Advisory Solutions Inc. Has $4.27 Million Stake in Intercontinental Exchange Inc. $ICE

Vestmark Advisory Solutions Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 80.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,296 shares of the financial services provider’s stock after purchasing an additional 10,400 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Intercontinental Exchange were worth $4,274,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Intercontinental Exchange by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after purchasing an additional 712,179 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Amundi boosted its position in shares of Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after purchasing an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after acquiring an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the period. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen reduced their target price 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, October 31st. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Morgan Stanley cut their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a report on Monday, October 13th. Finally, Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.82.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 approximately $3,170,672.19. This trade represents a 13.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 240,162 shares of company stock worth $43,642,652 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $148.93 on Friday. The firm has a market capitalization of $84.92 billion, a P/E ratio of 28.59, a P/E/G ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day moving average price is $162.47 and its two-hundred day moving average price is $173.11.

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