William Blair Investment Management LLC Lowers Holdings in Intercontinental Exchange Inc. $ICE

William Blair Investment Management LLC trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE) by 53.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,810 shares of the financial services provider’s stock after selling 111,602 shares during the period. William Blair Investment Management LLC’s holdings in Intercontinental Exchange were worth $17,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tsfg LLC grew its position in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares during the last quarter. Activest Wealth Management grew its position in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $31,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth $30,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth $33,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the transaction, the general counsel owned 46,293 shares of the company’s stock, valued at approximately $8,255,430.69. The trade was a 7.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,951,705 shares of the company’s stock, valued at $357,337,668.45. The trade was a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock worth $43,789,542 in the last ninety days. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ICE. UBS Group boosted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays restated an “overweight” rating and set a $201.00 target price (down from $212.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 target price on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the stock an “overweight” rating in a research report on Thursday, September 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.60.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $153.52 on Monday. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $170.86 and its 200 day simple moving average is $173.58. The firm has a market capitalization of $87.88 billion, a PE ratio of 29.47, a P/E/G ratio of 2.14 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal 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.