Nippon Life Global Investors Americas Inc. Boosts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Nippon Life Global Investors Americas Inc. lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,920 shares of the financial services provider’s stock after purchasing an additional 380 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Intercontinental Exchange were worth $21,070,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. Wellington Management Group LLP grew its position in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Capital World Investors grew its position in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after acquiring an additional 2,530,119 shares during the period. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after acquiring an additional 1,621,737 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Intercontinental Exchange by 4.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after purchasing an additional 218,516 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $159.84 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $91.68 billion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The stock’s 50-day moving average is $155.82 and its two-hundred day moving average is $142.80. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ICE shares. Citigroup raised their price objective on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Barclays upped their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,166 shares of company stock valued at $9,768,190. Insiders own 1.10% of the company’s stock.

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.