Vanguard Group Inc. Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Vanguard Group Inc. grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,776,525 shares of the financial services provider’s stock after acquiring an additional 3,536,913 shares during the quarter. Vanguard Group Inc. owned 8.85% of Intercontinental Exchange worth $6,978,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Pettyjohn Wood & White Inc. boosted its holdings in Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after acquiring an additional 75 shares during the last quarter. Busey Bank boosted its holdings in Intercontinental Exchange by 3.4% during the 1st quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 80 shares during the last quarter. Western Pacific Wealth Management LP boosted its holdings in Intercontinental Exchange by 4.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 80 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of Intercontinental Exchange by 16.4% in the 1st quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after buying an additional 82 shares during the last quarter. Finally, PDS Planning Inc boosted its holdings in shares of Intercontinental Exchange by 2.8% in the 1st quarter. PDS Planning Inc now owns 3,092 shares of the financial services provider’s stock worth $425,000 after buying an additional 83 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.08 during midday trading on Friday, hitting $147.68. 2,584,682 shares of the company traded hands, compared to its average volume of 2,774,870. The stock has a 50-day moving average of $138.38 and a 200-day moving average of $134.83. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $149.60. The firm has a market cap of $84.71 billion, a P/E ratio of 33.87, a PEG ratio of 2.63 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The company’s revenue was up 20.8% on a year-over-year basis. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ICE. Keefe, Bruyette & Woods cut their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Barclays boosted their price target on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.07.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold a total of 64,290 shares of company stock worth $9,086,274 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

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.