TCW Group Inc. Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

TCW Group Inc. raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 703,244 shares of the financial services provider's stock after acquiring an additional 15,953 shares during the period. Intercontinental Exchange makes up 1.0% of TCW Group Inc.'s portfolio, making the stock its 29th largest holding. TCW Group Inc. owned approximately 0.12% of Intercontinental Exchange worth $112,969,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the second quarter valued at $25,000. Wolff Wiese Magana LLC increased its position in Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider's stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the third quarter valued at $26,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.1 %

Shares of ICE stock traded down $0.21 during mid-day trading on Wednesday, hitting $158.20. The stock had a trading volume of 3,249,211 shares, compared to its average volume of 2,604,610. The firm has a market capitalization of $90.83 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. 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 12-month low of $116.21 and a 12-month high of $167.99. The firm's 50-day moving average is $160.23 and its two-hundred day moving average is $153.05.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share 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 net margin of 21.31% and a return on equity of 12.75%. The firm's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ICE shares. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, November 1st. Raymond James lowered Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. Morgan Stanley boosted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, Barclays increased their target price on shares of Intercontinental Exchange from $173.00 to $187.00 and gave the company an "overweight" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.07.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,946 shares of company stock worth $1,433,486. Corporate insiders own 1.10% of the company's stock.

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.