Investment Management Corp of Ontario Acquires 6,200 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Investment Management Corp of Ontario grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 48.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,010 shares of the financial services provider’s stock after buying an additional 6,200 shares during the period. Investment Management Corp of Ontario’s holdings in Intercontinental Exchange were worth $3,054,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at about $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth about $25,000. Wolff Wiese Magana LLC lifted its stake in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at about $26,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE opened at $156.26 on Wednesday. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The firm’s 50-day simple moving average is $160.53 and its two-hundred day simple moving average is $152.34. The stock has a market cap of $89.72 billion, a PE ratio of 37.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock worth $1,554,559 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ICE shares. Piper Sandler increased their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange 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.