Renaissance Technologies LLC Buys 42,218 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Renaissance Technologies LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 24.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 216,957 shares of the financial services provider’s stock after purchasing an additional 42,218 shares during the quarter. Renaissance Technologies LLC’s holdings in Intercontinental Exchange were worth $29,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Annapolis Financial Services LLC lifted its holdings in shares of Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange during the first quarter valued at $26,000. Finally, Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $25,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,096 shares of company stock worth $9,593,983. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Citigroup upped their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Stock Performance

ICE opened at $158.87 on Friday. The firm has a market cap of $91.13 billion, a P/E ratio of 36.44, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a 50 day simple moving average of $155.59 and a two-hundred day simple moving average of $142.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 EPS. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

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.