Daiwa Securities Group Inc. Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Daiwa Securities Group Inc. raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,212 shares of the financial services provider’s stock after purchasing an additional 19,041 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $17,222,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $124,508,000. Janus Henderson Group PLC boosted its position in Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the period. James Hambro & Partners purchased a new stake in Intercontinental Exchange during the 2nd quarter worth $93,340,000. Assenagon Asset Management S.A. increased its holdings in Intercontinental Exchange by 426.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after purchasing an additional 584,400 shares in the last quarter. Finally, Samlyn Capital LLC raised its position in Intercontinental Exchange by 142.2% in the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after purchasing an additional 490,671 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICE. Barclays lowered their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Trading Up 0.6 %

Shares of NYSE ICE opened at $159.29 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock’s 50 day moving average price is $160.64 and its two-hundred day moving average price is $151.16. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99. The stock has a market capitalization of $91.46 billion, a P/E ratio of 37.75, a PEG ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.46 EPS. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the sale, the director now directly owns 26,908 shares in the company, valued at $4,323,846.52. This represents a 6.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,809 shares of company stock valued at $933,978. Company insiders own 1.10% of the company’s stock.

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.