Schmidt P J Investment Management Inc. Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Schmidt P J Investment Management Inc. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,291 shares of the financial services provider’s stock after selling 1,164 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Intercontinental Exchange were worth $4,705,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. CCLA Investment Management boosted its stake in Intercontinental Exchange by 91,838.2% in the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after acquiring an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Intercontinental Exchange in the second quarter worth $124,508,000. Janus Henderson Group PLC increased its position in shares of Intercontinental Exchange by 589.4% during the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $93,340,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange 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 sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 1.1 %

Intercontinental Exchange stock opened at $166.89 on Friday. The firm has a market cap of $95.73 billion, a PE ratio of 38.28, a P/E/G ratio of 2.62 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $167.54. The stock’s 50 day simple moving average is $161.21 and its two-hundred day simple moving average is $146.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm posted $1.43 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research report on Monday, October 14th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. TD Cowen began coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Citigroup raised their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange 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.