Strategy Asset Managers LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Strategy Asset Managers LLC decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 13.6% in the third quarter, Holdings Channel reports. The institutional investor owned 42,165 shares of the financial services provider’s stock after selling 6,646 shares during the period. Intercontinental Exchange accounts for about 1.3% of Strategy Asset Managers LLC’s portfolio, making the stock its 23rd largest position. Strategy Asset Managers LLC’s holdings in Intercontinental Exchange were worth $6,773,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Parnassus Investments LLC grew its holdings in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the period. Legal & General Group Plc grew its position in shares of Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares during the period. Clearbridge Investments LLC raised its position in shares of Intercontinental Exchange by 10.4% during the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares during the last quarter. Raymond James & Associates increased its stake in Intercontinental Exchange by 11.1% during the 3rd quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock worth $407,348,000 after buying an additional 253,324 shares in the last quarter. Finally, AGF Management Ltd. raised its holdings in shares of Intercontinental Exchange by 11.0% during the second quarter. AGF Management Ltd. now owns 2,208,036 shares of the financial services provider’s stock valued at $302,258,000 after acquiring an additional 218,516 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Trading Up 0.2 %

Shares of ICE stock opened at $157.93 on Wednesday. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99. The firm has a market cap of $90.68 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The company has a 50-day moving average of $160.81 and a two-hundred day moving average of $150.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ICE shares. The Goldman Sachs Group lifted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Finally, Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange 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.