Intercontinental Exchange Inc. $ICE Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.2% in the third quarter, Holdings Channel reports. The firm owned 5,649,567 shares of the financial services provider’s stock after buying an additional 8,965 shares during the quarter. Bank of New York Mellon Corp’s holdings in Intercontinental Exchange were worth $951,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at $28,000. Westside Investment Management Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $29,000. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $31,000. Knuff & Co LLC increased its stake in shares of 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 acquiring an additional 74 shares during the period. Finally, Private Wealth Management Group LLC raised its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ICE shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $173.34 on Wednesday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company’s 50 day simple moving average is $162.81 and its 200 day simple moving average is $166.94. The company has a market capitalization of $98.84 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

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 the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $1.55 EPS. Intercontinental Exchange’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 3,700 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $157.96, for a total value of $584,452.00. Following the sale, the director directly owned 14,469 shares of the company’s stock, valued at approximately $2,285,523.24. This trade represents a 20.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 166,068 shares of company stock valued at $25,470,702 in the last three months. Company insiders own 1.00% of the company’s stock.

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.