Bank of Montreal Can Purchases 258,212 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bank of Montreal Can raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 25.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,265,978 shares of the financial services provider’s stock after purchasing an additional 258,212 shares during the period. Bank of Montreal Can’s holdings in Intercontinental Exchange were worth $200,809,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares in the last quarter. BDF Gestion bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $2,849,000. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth approximately $1,366,000. Blue Trust Inc. grew its stake in shares of Intercontinental Exchange by 312.4% in the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock worth $712,000 after buying an additional 3,924 shares during the last quarter. Finally, GDS Wealth Management increased its position in Intercontinental Exchange by 5.3% during the 3rd quarter. GDS Wealth Management now owns 103,412 shares of the financial services provider’s stock valued at $16,612,000 after buying an additional 5,226 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays cut their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Stock Performance

ICE stock opened at $159.60 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $111.82 and a 1 year high of $167.99. The company has a market cap of $91.64 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The stock’s fifty day moving average price is $160.59 and its 200-day moving average price is $151.34.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. The business 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 period last year, the firm posted $1.46 earnings per share. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,868 shares of company stock valued at $622,079. 1.10% of the stock is owned by insiders.

About Intercontinental Exchange

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.