Provident Investment Management Inc. Purchases 5,879 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Provident Investment Management Inc. grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,188 shares of the financial services provider’s stock after purchasing an additional 5,879 shares during the quarter. Intercontinental Exchange makes up about 3.0% of Provident Investment Management Inc.’s investment portfolio, making the stock its 18th largest position. Provident Investment Management Inc.’s holdings in Intercontinental Exchange were worth $31,233,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after acquiring an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP grew its position in Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after acquiring an additional 8,348,126 shares during the last quarter. Northern Trust Corp grew its position in Intercontinental Exchange by 3.9% during the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after acquiring an additional 282,963 shares during the last quarter. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $839,259,000. Finally, Invesco Ltd. grew its position in Intercontinental Exchange by 21.1% during the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock worth $668,231,000 after acquiring an additional 1,058,536 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICE. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Citigroup raised their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Bank of America cut their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group lifted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods cut their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Intercontinental Exchange Stock Down 2.0 %

Shares of NYSE ICE traded down $2.66 during mid-day trading on Tuesday, hitting $133.68. 1,815,426 shares of the stock traded hands, compared to its average volume of 2,313,639. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $134.32 and a 200-day moving average price of $129.17. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a market cap of $76.68 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 2.54 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was up 20.8% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 61,467 shares of company stock valued at $8,433,168. 1.10% of the stock is currently owned by corporate insiders.

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.