24,413 Shares in Intercontinental Exchange Inc. $ICE Acquired by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 24,413 shares of the financial services provider’s stock, valued at approximately $3,005,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Commerce Bank bought a new stake in shares of Intercontinental Exchange during the second quarter worth $15,215,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $39,958,000. Quantbot Technologies LP bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $14,976,000. Findlay Park Partners LLP acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $101,094,000. Finally, WealthShield Partners LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $2,961,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer directly owned 67,988 shares of the company’s stock, valued at $10,279,785.60. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,200 shares of company stock valued at $3,035,385 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on ICE. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target on shares of Intercontinental Exchange in a research note on Friday, July 31st. Morgan Stanley reduced their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research report on Monday, July 6th. Finally, UBS Group reissued a “buy” rating and issued a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $183.33.

Intercontinental Exchange Price Performance

Shares of ICE opened at $161.29 on Monday. The business’s 50 day moving average price is $142.34 and its two-hundred day moving average price is $151.54. The firm has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $181.65.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.