Munich Reinsurance Co Stock Corp in Munich Boosts Stake in Intercontinental Exchange Inc. $ICE

Munich Reinsurance Co Stock Corp in Munich lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 35.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 331,547 shares of the financial services provider’s stock after acquiring an additional 86,897 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Intercontinental Exchange were worth $40,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. ICONIQ Capital LLC boosted its position in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mission Wealth Management LP raised its holdings in Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 62 shares in the last quarter. Evergreen Capital Management LLC lifted its position in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after buying an additional 63 shares during the period. Johnson Financial Group LLC lifted its position in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after buying an additional 65 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in Intercontinental Exchange by 33.5% during the first quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after buying an additional 68 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.4%

NYSE ICE opened at $154.55 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $182.86. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $140.59 and its 200-day moving average price is $152.26. The stock has a market cap of $86.76 billion, a P/E ratio of 21.83, a P/E/G ratio of 1.53 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the sale, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. This represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the sale, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 20,725 shares of company stock worth $3,115,124 in the last 90 days. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a report on Thursday, June 11th. Finally, Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. 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 company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.33.

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.