Intercontinental Exchange Inc. $ICE Shares Purchased by Meitav Investment House Ltd.

Meitav Investment House Ltd. boosted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10,170.4% during the 1st quarter, HoldingsChannel reports. The firm owned 349,502 shares of the financial services provider’s stock after purchasing an additional 346,099 shares during the period. Meitav Investment House Ltd.’s holdings in Intercontinental Exchange were worth $54,970,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after buying an additional 413,639 shares during the period. J. Stern & Co. LLP increased its position in Intercontinental Exchange by 17,398.1% in the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after acquiring an additional 53,798,055 shares during the period. State Street Corp raised its stake in Intercontinental Exchange by 3.4% during the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock valued at $4,154,914,000 after acquiring an additional 837,208 shares during the last quarter. Morgan Stanley raised its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after acquiring an additional 158,450 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after acquiring an additional 4,067,922 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $2.67 during midday trading on Tuesday, reaching $137.59. The company’s stock had a trading volume of 1,472,944 shares, compared to its average volume of 3,990,811. The firm has a market capitalization of $77.81 billion, a PE ratio of 20.02, a P/E/G ratio of 1.24 and a beta of 0.94. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $189.35. The stock’s 50 day simple moving average is $144.62 and its 200 day simple moving average is $156.42. 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 (NYSE:ICE) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.72 EPS. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ICE shares. Morgan Stanley lifted their target price on Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Weiss Ratings downgraded Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Piper Sandler reiterated an “overweight” rating and issued a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Finally, Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $187.08.

Insider Activity

In other news, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,425 shares of company stock valued at $2,046,324 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company Profile

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.