Harvest Fund Management Co. Ltd Increases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Harvest Fund Management Co. Ltd boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 721.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 912 shares of the financial services provider’s stock after acquiring an additional 801 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Intercontinental Exchange were worth $147,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Intercontinental Exchange during the third quarter worth approximately $530,000. Daiwa Securities Group Inc. grew its holdings in Intercontinental Exchange by 21.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 107,212 shares of the financial services provider’s stock worth $17,222,000 after acquiring an additional 19,041 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Intercontinental Exchange by 17.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 191 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its stake in shares of Intercontinental Exchange by 0.3% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 125,503 shares of the financial services provider’s stock valued at $20,161,000 after purchasing an additional 404 shares in the last quarter. Finally, Swedbank AB lifted its position in shares of Intercontinental Exchange by 9.0% during the third quarter. Swedbank AB now owns 92,582 shares of the financial services provider’s stock worth $14,872,000 after purchasing an additional 7,640 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was 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 in the company, valued at $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock valued at $1,554,559 over the last 90 days. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ICE shares. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $161.14 on Thursday. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The company has a market cap of $92.52 billion, a PE ratio of 38.18, a P/E/G ratio of 2.64 and a beta of 1.08. The stock has a 50 day simple moving average of $160.55 and a 200-day simple moving average of $151.59. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Company Profile

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.