Nikko Asset Management Americas Inc. Has $19.36 Million Position in Intercontinental Exchange Inc. $ICE

by · The Cerbat Gem

Nikko Asset Management Americas Inc. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,557 shares of the financial services provider’s stock after selling 5,120 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $19,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $28,000. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 162 shares in the last quarter. Westside Investment Management Inc. bought a new position in Intercontinental Exchange in the second quarter worth $29,000. Hilltop National Bank bought a new position in Intercontinental Exchange in the second quarter worth $31,000. Finally, Knuff & Co LLC boosted its stake in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,770 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total transaction of $269,960.40. Following the sale, the general counsel owned 44,212 shares of the company’s stock, valued at $6,743,214.24. This represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the completion of the sale, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at $275,805,001.40. The trade was a 7.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 175,489 shares of company stock valued at $26,972,956. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $163.21 on Friday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The company has a 50 day moving average of $154.98 and a 200-day moving average of $170.16. 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 firm has a market cap of $93.06 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.53 and a beta of 1.05.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $1.55 EPS. Intercontinental Exchange’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. TD Cowen decreased their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Finally, UBS Group cut their target price 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. 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $194.70.

Read Our Latest Stock Analysis on ICE

Intercontinental Exchange Profile

(Free Report)

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.

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