DekaBank Deutsche Girozentrale Has $79.99 Million Stock Position in Intercontinental Exchange Inc. $ICE

DekaBank Deutsche Girozentrale lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 440,848 shares of the financial services provider’s stock after selling 1,753 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.08% of Intercontinental Exchange worth $79,987,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ICE. Advisors Capital Management LLC lifted its position in Intercontinental Exchange by 25.0% during the 1st quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares in the last quarter. Capital Investment Advisory Services LLC bought a new position in shares of Intercontinental Exchange in the 1st quarter valued at about $349,000. Sequoia Financial Advisors LLC increased its position in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider’s stock valued at $2,099,000 after acquiring an additional 1,879 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Intercontinental Exchange by 6.3% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 69,143 shares of the financial services provider’s stock worth $11,927,000 after acquiring an additional 4,107 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Intercontinental Exchange by 12.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $6,067,000 after purchasing an additional 3,760 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the transaction, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,956 shares of company stock worth $43,789,542 over the last 90 days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Barclays reiterated an “overweight” rating and set a $201.00 target price (down previously from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $198.60.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $156.78 on Wednesday. The firm has a 50 day moving average of $169.72 and a 200-day moving average of $173.45. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The stock has a market capitalization of $89.74 billion, a PE ratio of 30.09, a PEG ratio of 2.17 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 EPS. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal 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.