Point72 Hong Kong Ltd Acquires Shares of 100,764 Intercontinental Exchange, Inc. (NYSE:ICE)

Point72 Hong Kong Ltd bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,764 shares of the financial services provider’s stock, valued at approximately $16,187,000. Intercontinental Exchange accounts for about 1.1% of Point72 Hong Kong Ltd’s portfolio, making the stock its 24th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. raised its position in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares during the last quarter. American National Bank boosted its holdings in Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC grew its position in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ICE shares. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised 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. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock worth $1,554,559 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $160.96 on Friday. The stock’s 50-day moving average is $160.62 and its 200 day moving average is $151.97. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $92.42 billion, a P/E ratio of 38.14, a PEG ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Research analysts predict that Intercontinental Exchange, Inc. will post 6.07 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.