Corundum Group Inc. Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Corundum Group Inc. lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 26.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,375 shares of the financial services provider’s stock after selling 483 shares during the period. Corundum Group Inc.’s holdings in Intercontinental Exchange were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. UMB Bank n.a. grew its stake in Intercontinental Exchange by 21.6% in the 4th quarter. UMB Bank n.a. now owns 13,399 shares of the financial services provider’s stock valued at $1,997,000 after buying an additional 2,381 shares in the last quarter. Oak Ridge Investments LLC grew its position in shares of Intercontinental Exchange by 6.1% in the fourth quarter. Oak Ridge Investments LLC now owns 43,502 shares of the financial services provider’s stock valued at $6,482,000 after purchasing an additional 2,501 shares in the last quarter. Jackson Square Capital LLC raised its stake in shares of Intercontinental Exchange by 12.5% during the 4th quarter. Jackson Square Capital LLC now owns 8,701 shares of the financial services provider’s stock valued at $1,297,000 after purchasing an additional 968 shares during the period. Krilogy Financial LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth about $3,148,000. Finally, HB Wealth Management LLC boosted its stake in Intercontinental Exchange by 1.5% in the 4th quarter. HB Wealth Management LLC now owns 74,303 shares of the financial services provider’s stock worth $11,073,000 after purchasing an additional 1,067 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ICE. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Barclays reduced their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,795 shares of company stock worth $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $149.07 on Monday. The company has a 50-day simple moving average of $153.20 and a two-hundred day simple moving average of $155.63. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $167.99. The firm has a market cap of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during 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 quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Intercontinental Exchange Company 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.