Rit Capital Partners PLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 26.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,700 shares of the financial services provider’s stock after selling 59,600 shares during the period. Intercontinental Exchange makes up 7.0% of Rit Capital Partners PLC’s investment portfolio, making the stock its 6th biggest holding. Rit Capital Partners PLC’s holdings in Intercontinental Exchange were worth $26,065,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Brighton Jones LLC raised its stake in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC boosted its stake in Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock worth $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC grew its holdings in Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after buying an additional 289 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider’s stock valued at $3,892,000 after buying an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Intercontinental Exchange by 2.4% during the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider’s stock valued at $48,894,000 after buying an additional 6,373 shares during the period. Institutional investors own 89.30% of the company’s stock.
Insider Activity
In related news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon Bowen sold 667 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the transaction, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This represents a 4.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company’s stock.
Intercontinental Exchange Stock Down 2.2%
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 20.4% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ICE. Barclays lowered their price target on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group decreased their target price on shares of Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. UBS Group lowered their target price on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price target for the company. Finally, TD Cowen decreased their price target on shares of Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.
Get Our Latest Stock Report on ICE
About Intercontinental Exchange
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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