Korea Investment CORP Purchases 13,221 Shares of Intercontinental Exchange Inc. $ICE

Korea Investment CORP boosted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 442,532 shares of the financial services provider’s stock after purchasing an additional 13,221 shares during the quarter. Korea Investment CORP’s holdings in Intercontinental Exchange were worth $81,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares in the last quarter. Geode Capital Management LLC raised its position in Intercontinental Exchange by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after buying an additional 145,961 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares in the last quarter. Amundi grew its stake in shares of Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after acquiring an additional 810,938 shares in the last quarter. Finally, Independent Franchise Partners LLP raised its holdings in shares of Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total transaction of $241,537.80. Following the completion of the sale, the chief financial officer owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This trade represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total transaction of $269,960.40. Following the completion of the transaction, the general counsel owned 44,212 shares in the company, valued at approximately $6,743,214.24. This represents a 3.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 170,944 shares of company stock worth $26,338,174 in the last quarter. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.3%

Shares of ICE stock opened at $156.46 on Thursday. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The stock has a market cap of $89.21 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.11 and a beta of 1.06. The firm’s 50-day moving average is $157.04 and its 200-day moving average is $171.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $1.55 earnings per share. Intercontinental Exchange’s quarterly revenue was up 2.6% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ICE. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Morgan Stanley decreased their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday, October 21st. Wall Street Zen downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, TD Cowen dropped their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $194.70.

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.