Prudential Financial Inc. Has $130.63 Million Stake in Intercontinental Exchange Inc. $ICE

Prudential Financial Inc. lifted its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 33.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 711,984 shares of the financial services provider’s stock after purchasing an additional 176,675 shares during the quarter. Prudential Financial Inc.’s holdings in Intercontinental Exchange were worth $130,628,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ICE. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $28,000. Activest Wealth Management lifted its position in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the second quarter worth $29,000. McClarren Financial Advisors Inc. acquired a new position in Intercontinental Exchange during the first quarter worth $30,000. Finally, Hilltop National Bank bought a new position in Intercontinental Exchange in the second quarter valued at $31,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $154.57 on Monday. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The firm has a market capitalization of $88.13 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.11 and a beta of 1.06. The stock’s 50 day moving average price is $158.04 and its two-hundred day moving average price is $171.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share 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 for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $1.55 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,770 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total value of $269,960.40. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 939 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,258 shares of company stock worth $27,146,307 in the last ninety days. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ICE. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. UBS Group dropped their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, TD Cowen dropped their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $194.70.

About Intercontinental Exchange

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.