Intercontinental Exchange Inc. $ICE Shares Sold by Ninety One SA Pty Ltd

Ninety One SA Pty Ltd lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 54.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,924 shares of the financial services provider’s stock after selling 9,504 shares during the period. Ninety One SA Pty Ltd’s holdings in Intercontinental Exchange were worth $1,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. USS Investment Management Ltd boosted its position in Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider’s stock valued at $148,960,000 after buying an additional 256,851 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in Intercontinental Exchange in the 1st quarter valued at about $11,498,000. Swedbank AB grew its stake in Intercontinental Exchange by 7.6% in the 1st quarter. Swedbank AB now owns 3,795,369 shares of the financial services provider’s stock worth $596,936,000 after acquiring an additional 268,254 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich grew its stake in Intercontinental Exchange by 35.5% in the 2nd quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider’s stock worth $40,817,000 after acquiring an additional 86,897 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the completion of the transaction, the senior vice president directly owned 19,063 shares in the company, valued at approximately $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel directly owned 43,065 shares of the company’s stock, valued at approximately $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,179 shares of company stock valued at $6,473,715 in the last three months. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Up 1.8%

Shares of ICE traded up $2.77 during trading hours on Thursday, hitting $157.88. The company had a trading volume of 1,772,111 shares, compared to its average volume of 3,779,410. The company has a market capitalization of $88.64 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05. The company’s fifty day moving average price is $156.10 and its two-hundred day moving average price is $150.75.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 return on equity of 14.95% and a net margin of 30.08%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same period in the prior year, the business posted $1.81 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 8.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ICE. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. TD Cowen lifted their price objective on Intercontinental Exchange from $166.00 to $167.00 and gave the company a “hold” rating in a report on Monday. Jefferies Financial Group decreased their price objective on Intercontinental Exchange from $189.00 to $185.00 in a report on Wednesday, October 7th. Wells Fargo & Company restated an “underweight” rating and issued a $160.00 price target (up from $159.00) on shares of Intercontinental Exchange in a report on Wednesday. Finally, Rothschild & Co Redburn upped their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $186.31.

About Intercontinental Exchange

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.