LGT Fund Management Co Ltd. Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Fund Management Co Ltd. boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 466.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,748 shares of the financial services provider’s stock after acquiring an additional 31,907 shares during the period. LGT Fund Management Co Ltd.’s holdings in Intercontinental Exchange were worth $5,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $839,259,000. Wellington Management Group LLP lifted its holdings in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. Capital World Investors boosted its position in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Intercontinental Exchange by 303.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $161.70 on Tuesday. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The firm has a market capitalization of $92.75 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. The stock’s fifty day moving average is $152.59 and its two-hundred day moving average is $141.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ICE. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Citigroup increased their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Finally, Barclays boosted their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,346 shares of company stock valued at $9,472,911. 1.10% of the stock is currently owned by company insiders.

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.