Fred Alger Management LLC Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Fred Alger Management LLC acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,313 shares of the financial services provider’s stock, valued at approximately $372,000.

Several other large investors have also added to or reduced their stakes in ICE. FMR LLC boosted its stake in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at $124,508,000. James Hambro & Partners bought a new position in shares of Intercontinental Exchange in the second quarter valued at about $93,340,000. Assenagon Asset Management S.A. lifted its stake in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after buying an additional 584,400 shares during the last quarter. Finally, Samlyn Capital LLC boosted its holdings in shares of Intercontinental Exchange by 142.2% during the 2nd quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock worth $114,393,000 after buying an additional 490,671 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE stock opened at $160.96 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The stock’s fifty day moving average price is $160.62 and its two-hundred day moving average price is $152.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $92.42 billion, a PE ratio of 38.14, a P/E/G ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,696 shares of company stock valued at $1,554,559. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ICE has been the subject of several research reports. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Morgan Stanley increased their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Finally, Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

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.