GDS Wealth Management Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

GDS Wealth Management lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,186 shares of the financial services provider’s stock after purchasing an additional 7,650 shares during the period. GDS Wealth Management’s holdings in Intercontinental Exchange were worth $13,441,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in Intercontinental Exchange by 24.2% in the 2nd quarter. Renaissance Technologies LLC now owns 216,957 shares of the financial services provider’s stock worth $29,699,000 after acquiring an additional 42,218 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in Intercontinental Exchange by 343.0% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 7,509 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 5,814 shares during the period. One Capital Management LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $320,000. Dimensional Fund Advisors LP lifted its position in shares of Intercontinental Exchange by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,858,631 shares of the financial services provider’s stock valued at $254,447,000 after acquiring an additional 144,018 shares in the last quarter. Finally, Rathbones Group PLC boosted its stake in shares of Intercontinental Exchange by 10.5% in the second quarter. Rathbones Group PLC now owns 2,342 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 222 shares during the period. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Citigroup increased their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Argus reissued a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.36.

Intercontinental Exchange Stock Up 0.6 %

ICE stock opened at $161.91 on Tuesday. The firm has a 50 day moving average of $154.62 and a 200 day moving average of $142.18. The stock has a market capitalization of $92.87 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

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

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction dated 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 directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,096 shares of company stock valued at $9,593,983. Corporate 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.