CIBC Asset Management Inc Sells 4,330 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

CIBC Asset Management Inc decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,557 shares of the financial services provider’s stock after selling 4,330 shares during the quarter. CIBC Asset Management Inc’s holdings in Intercontinental Exchange were worth $23,621,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ICE. Stiles Financial Services Inc increased its holdings in Intercontinental Exchange by 26.3% during the second quarter. Stiles Financial Services Inc now owns 2,621 shares of the financial services provider’s stock worth $359,000 after buying an additional 546 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in shares of Intercontinental Exchange by 12.0% in the 2nd quarter. Resonant Capital Advisors LLC now owns 2,898 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 311 shares during the period. Mechanics Financial Corp raised its holdings in shares of Intercontinental Exchange by 2.1% in the 2nd quarter. Mechanics Financial Corp now owns 5,835 shares of the financial services provider’s stock valued at $799,000 after purchasing an additional 120 shares during the period. Natixis Advisors LLC lifted its stake in Intercontinental Exchange by 9.1% in the 2nd quarter. Natixis Advisors LLC now owns 1,567,039 shares of the financial services provider’s stock valued at $214,511,000 after purchasing an additional 130,828 shares during the last quarter. Finally, Equitable Trust Co. grew its holdings in Intercontinental Exchange by 7.6% during the second quarter. Equitable Trust Co. now owns 36,181 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 2,548 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ICE shares. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Argus restated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Citigroup upped their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Barclays upped their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $154.93.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $161.55 on Tuesday. The firm has a market capitalization of $92.75 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $150.14 and its 200-day moving average price is $140.52. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $161.97.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter last year, the business earned $1.43 EPS. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the sale, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,346 shares of company stock worth $9,472,911. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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.