United Services Automobile Association Sells 1,160 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

United Services Automobile Association decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,743 shares of the financial services provider’s stock after selling 1,160 shares during the period. United Services Automobile Association’s holdings in Intercontinental Exchange were worth $2,155,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ICE. Vanguard Group Inc. lifted its position in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. Wellington Management Group LLP raised its stake 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 buying an additional 4,251,371 shares during the last quarter. Capital World Investors lifted its holdings in Intercontinental Exchange by 35.6% in the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the period. Parnassus Investments LLC boosted its position in Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after acquiring an additional 1,621,737 shares during the last quarter. Finally, Norges Bank acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $839,259,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $154.93.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $161.70 on Tuesday. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71. The company’s 50 day moving average price is $152.59 and its two-hundred day moving average price is $141.38. The stock has a market cap of $92.75 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.82 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced 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. The firm had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 1,941 shares of the firm’s 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 completion of the sale, the director now owns 26,908 shares in the company, valued at approximately $4,323,846.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now 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 sold 66,346 shares of company stock worth $9,472,911. 1.10% of the stock is owned by company insiders.

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.