Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Eastern Bank

Eastern Bank grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5,659.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,610 shares of the financial services provider’s stock after purchasing an additional 88,054 shares during the quarter. Eastern Bank’s holdings in Intercontinental Exchange were worth $14,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings 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 acquiring an additional 3,536,913 shares during the period. CCLA Investment Management increased its holdings in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after acquiring an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $124,508,000. Janus Henderson Group PLC increased its holdings in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after acquiring an additional 687,817 shares during the period. Finally, James Hambro & Partners acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $93,340,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent research reports. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Citigroup boosted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, October 4th. Barclays boosted their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,532 shares of company stock worth $1,358,709. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.2 %

Shares of Intercontinental Exchange stock traded down $0.30 during mid-day trading on Tuesday, hitting $166.04. 801,403 shares of the stock were exchanged, compared to its average volume of 2,473,830. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.23. The stock has a market capitalization of $95.24 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a 50-day simple moving average of $160.80 and a 200 day simple moving average of $146.53. 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 (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.08 EPS for the current 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.