SeaBridge Investment Advisors LLC Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

SeaBridge Investment Advisors LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,735 shares of the financial services provider’s stock after selling 1,963 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $4,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ICE. Janus Henderson Group PLC boosted its stake in Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after acquiring an additional 3,460,096 shares during the last quarter. FMR LLC boosted its stake in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Swedbank AB boosted its stake in Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after acquiring an additional 2,123,185 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Intercontinental Exchange by 285.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after acquiring an additional 1,301,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after acquiring an additional 584,400 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock worth $2,120,572 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

ICE stock opened at $159.82 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The firm’s 50-day simple moving average is $153.12 and its 200 day simple moving average is $156.44. The stock has a market cap of $91.77 billion, a PE ratio of 37.87, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last 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 predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.27.

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.