Intercontinental Exchange Inc. $ICE Stock Position Lowered by Westpac Banking Corp

Westpac Banking Corp reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,365 shares of the financial services provider’s stock after selling 2,826 shares during the quarter. Westpac Banking Corp’s holdings in Intercontinental Exchange were worth $6,672,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its stake in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Intercontinental Exchange in the first quarter worth approximately $455,000. Larson Financial Group LLC boosted its holdings in shares of Intercontinental Exchange by 200.4% during the first quarter. Larson Financial Group LLC now owns 1,472 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 982 shares during the period. Creekmur Asset Management LLC grew its position in Intercontinental Exchange by 148,100.0% during the first quarter. Creekmur Asset Management LLC now owns 1,482 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at approximately $300,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 25,668 shares of company stock valued at $4,304,167 in the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ICE shares. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, October 31st. Raymond James Financial upgraded Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a report on Monday, October 13th. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Finally, Wall Street Zen lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $194.70.

Intercontinental Exchange Price Performance

NYSE ICE opened at $152.00 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a fifty day simple moving average of $160.17 and a 200 day simple moving average of $172.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a market cap of $86.67 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.