Rakuten Investment Management Inc. Invests $5.36 Million in Intercontinental Exchange Inc. $ICE

Rakuten Investment Management Inc. acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 31,799 shares of the financial services provider’s stock, valued at approximately $5,357,000.

Other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter worth approximately $29,000. Private Wealth Management Group LLC boosted its holdings in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Hilltop National Bank acquired a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $31,000. Finally, Knuff & Co LLC grew its position in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.5%

Shares of ICE stock opened at $174.44 on Friday. The stock has a 50 day moving average of $161.48 and a 200-day moving average of $167.30. The firm has a market cap of $99.46 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 2.09 and a beta of 1.03. 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 12 month low of $143.17 and a 12 month high of $189.35.

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

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $163.20, for a total value of $261,120.00. Following the transaction, the senior vice president directly owned 24,196 shares in the company, valued at $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $153.65, for a total value of $241,537.80. Following the sale, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 166,068 shares of company stock worth $25,470,702 in the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ICE shares. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Barclays set a $182.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Thursday, January 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, UBS Group reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $193.50.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.