National Bank of Canada FI Raises Stake in Intercontinental Exchange Inc. $ICE

National Bank of Canada FI lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 69.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 587,570 shares of the financial services provider’s stock after purchasing an additional 241,458 shares during the quarter. National Bank of Canada FI owned about 0.10% of Intercontinental Exchange worth $107,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the second quarter valued at about $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $29,000. Activest Wealth Management grew its holdings in shares of Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the period. Hilltop National Bank purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $31,000. Finally, Knuff & Co LLC raised its holdings in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $152.52, for a total value of $269,960.40. Following the transaction, the general counsel directly owned 44,212 shares in the company, valued at approximately $6,743,214.24. This represents a 3.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 175,489 shares of company stock worth $26,972,956 in the last three months. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.1%

Shares of ICE stock opened at $163.21 on Monday. The company has a market capitalization of $93.06 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.53 and a beta of 1.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $154.98 and a 200 day moving average price of $170.11. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results 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 $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the company earned $1.55 EPS. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, TD Cowen lowered their price target on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.70.

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.