Intercontinental Exchange, Inc. (NYSE:ICE) Stake Lowered by Perpetual Ltd

Perpetual Ltd cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,528,853 shares of the financial services provider’s stock after selling 190,092 shares during the quarter. Intercontinental Exchange makes up about 2.7% of Perpetual Ltd’s investment portfolio, making the stock its 5th largest position. Perpetual Ltd’s holdings in Intercontinental Exchange were worth $227,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. raised its holdings in shares of Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC boosted its position in Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 66 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares in the last quarter. Finally, Catalina Capital Group LLC lifted its stake in shares of Intercontinental Exchange by 3.9% during the 3rd quarter. Catalina Capital Group LLC now owns 1,867 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICE. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target for the company. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Barclays cut their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,795 shares of company stock valued at $2,120,572 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $149.07 on Tuesday. The firm has a market cap of $85.59 billion, a PE ratio of 35.33, a P/E/G ratio of 2.84 and a beta of 1.10. The business has a 50-day moving average price of $153.20 and a 200 day moving average price of $155.73. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.46 EPS. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.06 earnings per share for the current fiscal year.

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.