Caisse de depot et placement du Quebec Buys Shares of 1,417,153 Intercontinental Exchange Inc. $ICE

Caisse de depot et placement du Quebec purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,417,153 shares of the financial services provider’s stock, valued at approximately $174,466,000.

Several other institutional investors have also modified their holdings of ICE. PNC Financial Services Group Inc. raised its holdings in shares of Intercontinental Exchange by 5.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock valued at $31,041,000 after buying an additional 10,742 shares during the last quarter. BlackRock Inc. bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $6,245,085,000. USS Investment Management Ltd increased its position in Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after acquiring an additional 256,851 shares during the period. Walter Public Investments Inc. raised its stake in Intercontinental Exchange by 13.8% during the 4th quarter. Walter Public Investments Inc. now owns 124,993 shares of the financial services provider’s stock valued at $20,244,000 after acquiring an additional 15,129 shares in the last quarter. Finally, Nicholas Company Inc. boosted its position in Intercontinental Exchange by 10.1% during the 4th quarter. Nicholas Company Inc. now owns 437,155 shares of the financial services provider’s stock worth $70,802,000 after acquiring an additional 40,240 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

ICE stock opened at $162.01 on Thursday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $179.20. The firm has a market cap of $90.95 billion, a PE ratio of 22.88, a P/E/G ratio of 1.57 and a beta of 0.92. The firm has a 50 day simple moving average of $143.78 and a 200 day simple moving average of $151.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.81 earnings per share. Equities research analysts forecast that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. UBS Group reissued a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings lowered shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $178.00 price objective on shares of Intercontinental Exchange in a report on Friday, July 31st. The Goldman Sachs Group dropped their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, TD Cowen restated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $183.33.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction 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 sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. The trade was 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 at this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 17,227 shares of company stock valued at $2,598,301. Insiders own 0.84% of the company’s stock.

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.