Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Boosted by KBC Group NV

KBC Group NV grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,245 shares of the financial services provider’s stock after buying an additional 15,896 shares during the quarter. KBC Group NV’s holdings in Intercontinental Exchange were worth $31,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. M&T Bank Corp raised its stake in shares of Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after buying an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after buying an additional 61,110 shares during the period. Toronto Dominion Bank boosted its stake in Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after buying an additional 4,973 shares in the last quarter. Finally, Bright Rock Capital Management LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $4,470,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 2.1 %

NYSE:ICE opened at $160.82 on Tuesday. The stock’s 50-day moving average is $152.98 and its two-hundred day moving average is $156.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $92.34 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99.

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 the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 EPS. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ICE shares. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Bank of America increased their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. One investment 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. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction 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 transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % 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. Corporate 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.