Intercontinental Exchange Inc. $ICE Holdings Lowered by Rit Capital Partners PLC

Rit Capital Partners PLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 26.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 165,700 shares of the financial services provider’s stock after selling 59,600 shares during the quarter. Intercontinental Exchange accounts for about 7.0% of Rit Capital Partners PLC’s holdings, making the stock its 6th biggest holding. Rit Capital Partners PLC’s holdings in Intercontinental Exchange were worth $26,065,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $25,000. Steph & Co. grew its stake in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $28,000. Swiss RE Ltd. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Finally, Dorato Capital Management bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel directly owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sharon Bowen sold 667 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This trade represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ICE shares. Morgan Stanley dropped their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. UBS Group dropped their price objective on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group cut their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $138.50 on Wednesday. The stock has a fifty day moving average of $140.17 and a 200 day moving average of $154.40. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The firm has a market capitalization of $78.32 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.46 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $1.72 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.