Coastline Trust Co Sells 6,087 Shares of Intercontinental Exchange Inc. $ICE

Coastline Trust Co lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 39.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,535 shares of the financial services provider’s stock after selling 6,087 shares during the quarter. Coastline Trust Co’s holdings in Intercontinental Exchange were worth $1,450,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in ICE. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the period. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $714,869,000. Flossbach Von Storch SE bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $649,900,000. Finally, Bank of America Corp DE acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $521,557,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Edmonds sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.59, for a total transaction of $802,950.00. Following the sale, the insider directly owned 14,367 shares in the company, valued at $2,307,196.53. This trade represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president directly owned 164,264 shares of the company’s stock, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,179 shares of company stock valued at $6,473,715 over the last three months. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays reaffirmed an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Raymond James Financial reiterated a “strong-buy” rating and issued a $218.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, September 1st. TD Cowen reiterated a “buy” rating and set a $177.00 price target (up from $159.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, September 5th. Finally, UBS Group reiterated a “buy” rating and set a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $184.17.

Intercontinental Exchange Trading Down 0.7%

Shares of Intercontinental Exchange stock traded down $1.03 during trading on Thursday, reaching $151.00. 959,614 shares of the company were exchanged, compared to its average volume of 3,840,776. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.05. The business has a 50-day moving average price of $155.40 and a 200-day moving average price of $151.04. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $84.77 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 1.48 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $2.63 billion. During the same period last year, the firm posted $1.81 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.1 EPS for the current fiscal year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.