Korea Investment CORP Takes $48.60 Million Position in Intercontinental Exchange Inc. $ICE

Korea Investment CORP bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 394,751 shares of the financial services provider’s stock, valued at approximately $48,598,000. Korea Investment CORP owned approximately 0.07% of Intercontinental Exchange as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $4,015,000. Rakuten Securities Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth about $26,000. Ieq Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth about $1,029,000. Callan Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $3,264,000. Finally, Expressive Wealth LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth about $287,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director William Jefferson Hague sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the transaction, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 20,200 shares of company stock worth $3,035,385. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of several recent analyst reports. The Goldman Sachs Group decreased their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Morgan Stanley dropped their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Barclays reaffirmed an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. TD Cowen reiterated a “buy” rating and set a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $183.33.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE stock opened at $161.29 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $90.55 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.65. The stock’s 50-day moving average price is $142.34 and its 200-day moving average price is $151.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.81 earnings per share. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.