Canada Pension Plan Investment Board Acquires 331,574 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Canada Pension Plan Investment Board increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 253.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 462,350 shares of the financial services provider’s stock after purchasing an additional 331,574 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.08% of Intercontinental Exchange worth $63,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $25,000. Annapolis Financial Services LLC increased its holdings in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares in the last quarter. New Millennium Group LLC bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange during the first quarter valued at approximately $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.6 %

Shares of NYSE ICE opened at $159.84 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The firm’s 50-day moving average price is $155.82 and its 200-day moving average price is $142.77. The stock has a market capitalization of $91.68 billion, a price-to-earnings ratio of 36.66, a P/E/G ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business 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 company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup raised 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. Barclays raised their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.08.

Insider Buying and Selling

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 transaction of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s 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 $98,011.62. Following the transaction, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. The disclosure for this sale can be found here. Insiders sold a total of 68,166 shares of company stock worth $9,768,190 over the last three months. 1.10% of the stock is owned by 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.