ABN Amro Investment Solutions Makes New Investment in Intercontinental Exchange Inc. $ICE

ABN Amro Investment Solutions purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 492,777 shares of the financial services provider’s stock, valued at approximately $90,410,000. Intercontinental Exchange makes up about 1.8% of ABN Amro Investment Solutions’ investment portfolio, making the stock its 11th biggest position. ABN Amro Investment Solutions owned 0.09% of Intercontinental Exchange as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Candriam S.C.A. lifted its stake in shares of Intercontinental Exchange by 31.5% during the 2nd quarter. Candriam S.C.A. now owns 461,821 shares of the financial services provider’s stock valued at $84,734,000 after buying an additional 110,734 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of Intercontinental Exchange by 4.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 86,720 shares of the financial services provider’s stock worth $15,911,000 after purchasing an additional 3,770 shares in the last quarter. Geode Capital Management LLC raised its stake in Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after purchasing an additional 145,961 shares during the period. M&G PLC lifted its holdings in Intercontinental Exchange by 11.5% in the 2nd quarter. M&G PLC now owns 90,435 shares of the financial services provider’s stock worth $16,550,000 after purchasing an additional 9,318 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in Intercontinental Exchange by 41.3% in the 2nd quarter. Forsta AP Fonden now owns 174,000 shares of the financial services provider’s stock worth $31,924,000 after purchasing an additional 50,900 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.3%

Shares of NYSE:ICE opened at $154.00 on Thursday. The company has a market cap of $87.81 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $161.05 and a 200 day moving average price of $172.89.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In related news, Director Duriya M. Farooqui sold 2,036 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares in the company, valued at approximately $2,550,083.66. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the sale, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,587 shares of company stock worth $3,989,936 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 21st. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a report on Monday, October 13th. UBS Group cut their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, TD Cowen decreased their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Company Profile

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.