Intercontinental Exchange Inc (NYSE:ICE) Shares Acquired by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. grew its position in Intercontinental Exchange Inc (NYSE:ICE) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 228,110 shares of the financial services provider’s stock after purchasing an additional 19,280 shares during the quarter. Intercontinental Exchange makes up 1.5% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 18th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Intercontinental Exchange were worth $19,603,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI raised its stake in Intercontinental Exchange by 1.5% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 125,790 shares of the financial services provider’s stock worth $10,810,000 after acquiring an additional 1,865 shares in the last quarter. Independence Bank of Kentucky raised its stake in Intercontinental Exchange by 2.9% during the 2nd quarter. Independence Bank of Kentucky now owns 21,936 shares of the financial services provider’s stock worth $1,885,000 after acquiring an additional 625 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Intercontinental Exchange by 5.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 269,680 shares of the financial services provider’s stock worth $23,173,000 after acquiring an additional 13,505 shares in the last quarter. Dowling & Yahnke LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $200,000. Finally, Brandywine Oak Private Wealth LLC raised its stake in Intercontinental Exchange by 3.6% during the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 3,247 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.

Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Raymond James lifted their price target on shares of Intercontinental Exchange from $89.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, July 5th. Wells Fargo & Co lifted their price target on shares of Intercontinental Exchange from $79.00 to $81.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. Citigroup lowered shares of Intercontinental Exchange from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $92.00 to $99.00 in a research note on Monday, July 22nd. Finally, Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $88.21.

Intercontinental Exchange stock traded down $0.28 during midday trading on Friday, hitting $88.92. 7,440 shares of the company’s stock were exchanged, compared to its average volume of 1,757,108. Intercontinental Exchange Inc has a 12-month low of $69.69 and a 12-month high of $92.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $49.55 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.83 and a beta of 0.49. The business has a 50 day moving average price of $88.28.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a net margin of 31.98% and a return on equity of 12.22%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the firm posted $0.90 EPS. Intercontinental Exchange’s revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts anticipate that Intercontinental Exchange Inc will post 3.77 earnings per share for the current fiscal year.

In other news, President Benjamin Jackson sold 1,455 shares of Intercontinental Exchange stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $80.49, for a total value of $117,112.95. Following the sale, the president now owns 76,749 shares of the company’s stock, valued at $6,177,527.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 53,166 shares of Intercontinental Exchange stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $81.26, for a total transaction of $4,320,269.16. The disclosure for this sale can be found here. Insiders have sold a total of 164,525 shares of company stock worth $14,014,576 over the last three months. 1.50% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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