Many hedge funds have recently traded shares of the Intercontinental Exchange (ICE). Vanguard Group increased its ownership by 7.5%, now holding over 50.7 million shares worth about $6.98 billion. CCLA Investment Management raised its stake by a staggering 91,838.2%, owning 1.1 million shares valued at $152.9 million. Manning & Napier Advisors and Janus Henderson Group also made significant purchases, with investments around $124.5 million and $110.6 million, respectively. In total, institutional investors own 89.3% of the company.
Current Trading Status
ICE’s stock opened at $165.13 on Thursday, with a 50-day average of $160.08 and a 200-day average of $145.86. The stock has fluctuated between a low of $104.49 and a high of $167.23 in the past year and has a market cap of $94.72 billion.
Earnings Report
ICE reported earnings of $1.52 per share on August 1, exceeding expectations. Their revenue for the quarter was $2.32 billion, marking a 22.7% increase from the previous year.
Analyst Ratings
Analysts have varying views on ICE. Citigroup lifted its target price from $160 to $162, while Bank of America raised theirs from $168 to $175. Three analysts rate ICE as a hold, while thirteen suggest a buy, with a consensus target of $170.67.
Insider Activity
Insider trading includes CFO Warren Gardiner selling 750 shares for approximately $121,072 and Christopher Scott Edmonds selling 602 shares for around $98,011. Insiders have sold a total of 8,532 shares recently.
About the Company
Intercontinental Exchange, Inc. provides market infrastructure, data services, and technology solutions globally.
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Want more info on ICE holdings? Check HoldingsChannel.com for the latest data.
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