Bank of Nova Scotia Has $109.85 Million Holdings in Intercontinental Exchange Inc. $ICE

Bank of Nova Scotia increased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 383.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 598,726 shares of the financial services provider’s stock after purchasing an additional 474,949 shares during the quarter. Bank of Nova Scotia owned 0.10% of Intercontinental Exchange worth $109,848,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.2% in 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 in the last quarter. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $1,542,780,000. Price T Rowe Associates Inc. MD increased its stake in shares of Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the last quarter. Finally, Amundi raised its holdings in shares of Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after buying an additional 810,938 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $157.63 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35. The stock has a market cap of $89.88 billion, a price-to-earnings ratio of 28.71, a P/E/G ratio of 2.40 and a beta of 1.04. The company’s fifty day moving average is $155.39 and its 200 day moving average is $170.68.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $1.55 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 939 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares of the company’s stock, valued at approximately $2,859,992.96. This represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $152.52, for a total transaction of $269,960.40. Following the transaction, the general counsel owned 44,212 shares of the company’s stock, valued at approximately $6,743,214.24. The trade was a 3.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 168,044 shares of company stock valued at $25,832,095 over the last three months. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. 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. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday, October 13th. UBS Group lowered their price objective on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One research 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’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange 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.