Raiffeisen Bank International AG Reduces Stock Holdings in Intercontinental Exchange Inc. $ICE

Raiffeisen Bank International AG lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 80.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,890 shares of the financial services provider’s stock after selling 24,196 shares during the quarter. Raiffeisen Bank International AG’s holdings in Intercontinental Exchange were worth $1,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ICE. Princeton Global Asset Management LLC purchased a new position in Intercontinental Exchange during the second quarter worth $28,000. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $29,000. Activest Wealth Management boosted its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares during the period. Hilltop National Bank bought a new position in Intercontinental Exchange during the 2nd quarter valued at about $31,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares of the company’s stock, valued at $4,530,293.52. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the sale, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,098 shares of company stock valued at $4,024,000 over the last quarter. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

ICE stock opened at $152.82 on Wednesday. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $189.35. The business has a 50-day moving average price of $159.29 and a 200 day moving average price of $172.45. The company has a market capitalization of $87.13 billion, a P/E ratio of 29.33, a PEG ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. TD Cowen decreased their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Finally, Morgan Stanley reduced their target price on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $194.70.

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.