Bank of New York Mellon Corp Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Bank of New York Mellon Corp lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,030,165 shares of the financial services provider’s stock after selling 171,390 shares during the period. Bank of New York Mellon Corp owned approximately 0.70% of Intercontinental Exchange worth $551,689,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Intercontinental Exchange by 8.5% in the fourth quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after purchasing an additional 1,991 shares in the last quarter. Point72 Europe London LLP increased its holdings in Intercontinental Exchange by 10.9% during the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after purchasing an additional 6,500 shares during the period. Perpetual Ltd raised its holdings in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock valued at $204,495,000 after purchasing an additional 6,272 shares in the last quarter. Finally, LGT Group Foundation lifted its stake in Intercontinental Exchange by 36.0% during the fourth quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock worth $45,724,000 after purchasing an additional 94,039 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ICE. Barclays raised their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $154.93.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the sale, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Judith A. Sprieser sold 2,267 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the sale, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now owns 17,836 shares in the company, valued at approximately $2,675,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,992 shares of company stock worth $9,197,801. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.1 %

Shares of NYSE:ICE traded up $0.24 during midday trading on Monday, reaching $160.25. 621,342 shares of the company were exchanged, compared to its average volume of 2,457,423. The firm has a market cap of $91.92 billion, a PE ratio of 36.70, a P/E/G ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $161.11. The stock has a fifty day simple moving average of $147.29 and a two-hundred day simple moving average of $139.45. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6 earnings per share 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.