Deutsche Bank AG Purchases Shares of 2,343,916 Intercontinental Exchange Inc. $ICE

Deutsche Bank AG purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,343,916 shares of the financial services provider’s stock, valued at approximately $288,560,000.

A number of other hedge funds also recently made changes to their positions in the stock. Perigon Wealth Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter worth approximately $4,259,000. Commerzbank Aktiengesellschaft FI bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $918,000. Phillips Wealth Planners LLC bought a new stake in Intercontinental Exchange in the second quarter valued at approximately $563,000. Trust Co. of Vermont acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $6,975,000. Finally, Principle Wealth Partners LLC bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $201,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $156.30 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average of $141.20 and a 200-day moving average of $151.86. The company has a market cap of $87.75 billion, a PE ratio of 22.08, a P/E/G ratio of 1.52 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.72.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company posted $1.81 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas Foley sold 7,300 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president owned 19,063 shares in the company, valued at approximately $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,376 shares of company stock valued at $2,746,946. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ICE shares. UBS Group restated a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley decreased their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.