Harel Insurance Investments & Financial Services Ltd. Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Harel Insurance Investments & Financial Services Ltd. purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 166,498 shares of the financial services provider’s stock, valued at approximately $24,810,000.

A number of other large investors have also modified their holdings of ICE. Daymark Wealth Partners LLC increased its stake in Intercontinental Exchange by 13.8% during the 2nd quarter. Daymark Wealth Partners LLC now owns 10,429 shares of the financial services provider’s stock valued at $1,428,000 after purchasing an additional 1,263 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Intercontinental Exchange by 6.4% during the second quarter. D. E. Shaw & Co. Inc. now owns 753,309 shares of the financial services provider’s stock valued at $103,120,000 after buying an additional 45,203 shares during the last quarter. MBB Public Markets I LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $5,619,000. Lighthouse Investment Partners LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth $510,000. Finally, Legal & General Group Plc lifted its position in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after acquiring an additional 191,763 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. The Goldman Sachs Group lifted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Bank of America upped their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Barclays lowered their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Stock Down 0.1 %

Shares of ICE opened at $157.52 on Friday. The firm has a market cap of $90.45 billion, a P/E ratio of 37.33, a PEG ratio of 2.95 and a beta of 1.10. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $167.99. The stock’s 50 day moving average is $152.94 and its two-hundred day moving average is $155.86. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 over the last 90 days. Corporate 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.