Pictet Asset Management Holding SA cut its position in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 9.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,947 shares of the financial services provider’s stock after selling 35,892 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Intercontinental Exchange were worth $54,095,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock valued at $8,770,647,000 after acquiring an additional 413,639 shares during the period. J. Stern & Co. LLP increased its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after purchasing an additional 53,798,055 shares during the period. State Street Corp increased its stake in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after purchasing an additional 837,208 shares during the period. Morgan Stanley lifted its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock worth $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.
Analysts Set New Price Targets
ICE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. UBS Group restated a “buy” rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. Finally, Barclays reiterated an “overweight” rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $189.36.
Insiders Place Their Bets
In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer owned 25,189 shares of the company’s stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,425 shares of company stock valued at $2,046,324 in the last ninety days. 0.84% of the stock is currently owned by insiders.
Intercontinental Exchange Trading Down 0.9%
Shares of ICE opened at $122.76 on Tuesday. The stock’s 50-day moving average price is $147.11 and its 200 day moving average price is $157.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $69.42 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.16 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm earned $1.72 EPS. Intercontinental Exchange’s revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.37 earnings per share for the current year.
Intercontinental Exchange Company Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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