Mawer Investment Management Ltd. Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Mawer Investment Management Ltd. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 30.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,201,162 shares of the financial services provider’s stock after selling 1,415,746 shares during the period. Intercontinental Exchange comprises 2.3% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 13th biggest position. Mawer Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $514,235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Wolff Wiese Magana LLC boosted its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. boosted its holdings in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $29,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on ICE. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 0.1 %

Shares of Intercontinental Exchange stock opened at $155.75 on Monday. Intercontinental Exchange, Inc. has a 1 year low of $110.64 and a 1 year high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $160.97 and its 200-day simple moving average is $150.22. The company has a market cap of $89.43 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS 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.