Capital Group Investment Management PTE. LTD. Purchases 6,367 Shares of Intercontinental Exchange Inc. $ICE

Capital Group Investment Management PTE. LTD. boosted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 306.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,443 shares of the financial services provider’s stock after purchasing an additional 6,367 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Intercontinental Exchange were worth $1,367,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $28,000. Steph & Co. increased its holdings in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Dorato Capital Management acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $29,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $30,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares in the company, valued at $6,891,887.88. The trade was a 9.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,001 shares of company stock worth $1,847,820 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ICE shares. Weiss Ratings downgraded shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Morgan Stanley upped their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Barclays reiterated an “overweight” rating and issued a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $194.60.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $141.36 on Friday. The stock has a market capitalization of $79.94 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 1.36 and a beta of 0.92. Intercontinental Exchange Inc. has a 12 month low of $136.67 and a 12 month high of $189.35. The firm’s 50 day simple moving average is $155.83 and its 200-day simple moving average is $159.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.72 EPS. Analysts expect that Intercontinental Exchange Inc. will post 8.16 EPS for the current year.

About Intercontinental Exchange

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.