Generate Investment Management Ltd Purchases 22,896 Shares of Intercontinental Exchange Inc. $ICE

Generate Investment Management Ltd raised its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 17.8% during the third quarter, Holdings Channel.com reports. The fund owned 151,577 shares of the financial services provider’s stock after buying an additional 22,896 shares during the period. Intercontinental Exchange accounts for approximately 1.3% of Generate Investment Management Ltd’s portfolio, making the stock its 24th largest position. Generate Investment Management Ltd’s holdings in Intercontinental Exchange were worth $25,538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Princeton Global Asset Management LLC bought a new position in Intercontinental Exchange during the second quarter valued at $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the second quarter worth $29,000. Private Wealth Management Group LLC increased its position in 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 valued at $30,000 after acquiring an additional 66 shares during the last quarter. Hilltop National Bank bought a new position in Intercontinental Exchange during the second quarter valued at $31,000. Finally, Knuff & Co LLC raised its stake in shares of Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Morgan Stanley reiterated a “positive” rating and set a $174.00 price target (up from $169.00) on shares of Intercontinental Exchange in a report on Monday, December 22nd. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. TD Cowen reduced their target price on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Raymond James Financial raised 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. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $194.30.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $163.14 on Wednesday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock’s 50-day simple moving average is $156.02 and its 200-day simple moving average is $168.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $93.02 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.31 and a beta of 1.04.

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

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,081 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $151.00, for a total value of $314,231.00. Following the transaction, the general counsel directly owned 44,212 shares of the company’s stock, valued at approximately $6,676,012. This trade represents a 4.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 176,150 shares of company stock valued at $27,072,531 in the last three months. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.