Tocqueville Asset Management L.P. Acquires New Stake in Intercontinental Exchange Inc. $ICE

Tocqueville Asset Management L.P. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 187,466 shares of the financial services provider’s stock, valued at approximately $23,079,000.

Other institutional investors also recently bought and sold shares of the company. J. Stern & Co. LLP boosted its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. BlackRock Inc. purchased a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $6,245,085,000. Norges Bank acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $1,418,228,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $714,869,000. Finally, Flossbach Von Storch SE purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $649,900,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director owned 15,077 shares of the company’s stock, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the sale, the director owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,376 shares of company stock valued at $2,746,946 over the last 90 days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Up 0.6%

Intercontinental Exchange stock opened at $157.04 on Thursday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $181.72. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $88.16 billion, a PE ratio of 22.18, a P/E/G ratio of 1.53 and a beta of 0.92. The stock’s fifty day moving average is $141.53 and its two-hundred day moving average is $151.73.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings downgraded shares of Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Morgan Stanley decreased their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Company 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.