Strengthening Families & Communities LLC Lowers Stake in Intercontinental Exchange Inc. $ICE

Strengthening Families & Communities LLC cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,370 shares of the financial services provider’s stock after selling 457 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Intercontinental Exchange were worth $982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 1.4% during the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock worth $9,132,211,000 after buying an additional 712,179 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Intercontinental Exchange by 491.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock worth $1,109,780,000 after buying an additional 5,345,388 shares in the last quarter. Amundi grew its holdings in shares of Intercontinental Exchange by 14.7% during the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock worth $1,060,574,000 after buying an additional 810,938 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock worth $1,068,193,000 after buying an additional 31,588 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after buying an additional 3,165,381 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 939 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the transaction, the chief operating officer directly owned 16,624 shares in the company, valued at approximately $2,859,992.96. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 240,956 shares of company stock valued at $43,789,542 over the last quarter. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $157.51 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a 50 day moving average of $174.01 and a two-hundred day moving average of $174.13. The company has a market cap of $90.16 billion, a P/E ratio of 30.23, a P/E/G ratio of 1.94 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ICE shares. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Morgan Stanley lowered their target price on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating for the company in a report on Wednesday, October 1st. Finally, UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.10.

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.