Corundum Group Inc. Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Corundum Group Inc. grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,858 shares of the financial services provider’s stock after purchasing an additional 134 shares during the period. Corundum Group Inc.’s holdings in Intercontinental Exchange were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth about $317,000. Douglas Lane & Associates LLC grew its stake in shares of Intercontinental Exchange by 15.2% during the first quarter. Douglas Lane & Associates LLC now owns 1,802 shares of the financial services provider’s stock valued at $248,000 after buying an additional 238 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Intercontinental Exchange by 9.0% in the first quarter. Ballentine Partners LLC now owns 4,835 shares of the financial services provider’s stock worth $664,000 after buying an additional 399 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth approximately $8,496,000. Finally, Central Valley Advisors LLC boosted its holdings in Intercontinental Exchange by 9.2% during the 1st quarter. Central Valley Advisors LLC now owns 10,656 shares of the financial services provider’s stock valued at $1,464,000 after acquiring an additional 898 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.2 %

Intercontinental Exchange stock opened at $166.83 on Monday. The company has a market cap of $95.69 billion, a PE ratio of 38.26, a PEG ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $167.23. The business’s 50-day simple moving average is $160.55 and its two-hundred day simple moving average is $146.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.43 EPS. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Citigroup boosted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,532 shares of company stock worth $1,358,709. 1.10% of the stock is owned by corporate insiders.

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.