Intercontinental Exchange Inc. $ICE is Burgundy Asset Management Ltd.’s 7th Largest Position

Burgundy Asset Management Ltd. reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,266,790 shares of the financial services provider’s stock after selling 10,204 shares during the quarter. Intercontinental Exchange accounts for approximately 2.3% of Burgundy Asset Management Ltd.’s holdings, making the stock its 7th largest holding. Burgundy Asset Management Ltd. owned about 0.22% of Intercontinental Exchange worth $232,418,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 1.4% during the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.2% in the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after purchasing an additional 145,961 shares during the period. Norges Bank acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at $1,542,780,000. Price T Rowe Associates Inc. MD increased its stake in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares during the period. Finally, Amundi lifted its holdings in Intercontinental Exchange by 14.7% in the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after buying an additional 810,938 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. Barclays set a $183.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price for the company in a research note on Monday, October 13th. Finally, UBS Group decreased 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 report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $194.70.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the sale, the chief executive officer directly owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. This represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 1,572 shares of Intercontinental Exchange stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This trade represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 168,044 shares of company stock valued at $25,832,095 over the last quarter. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Down 0.9%

Shares of NYSE ICE opened at $157.63 on Friday. 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 stock’s 50 day moving average price is $155.39 and its two-hundred day moving average price is $170.71. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock has a market capitalization of $89.88 billion, a P/E ratio of 28.71, a PEG ratio of 2.40 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 EPS. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share 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.