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

Daiwa Securities Group Inc. raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 107,212 shares of the financial services provider’s stock after acquiring an additional 19,041 shares during the period. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $17,222,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange in the 2nd quarter valued at $25,000. Fairscale Capital LLC purchased a new position in Intercontinental Exchange during the 2nd quarter worth $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 worth $25,000 after acquiring an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at about $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,809 shares of company stock valued at $933,978. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $159.29 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The business has a fifty day moving average of $160.64 and a 200-day moving average of $151.16. The stock has a market cap of $91.46 billion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on ICE. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. TD Cowen assumed coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Barclays reduced their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.