C WorldWide Group Holding A S Sells 120,681 Shares of Intercontinental Exchange Inc. $ICE

C WorldWide Group Holding A S decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 10.5% in the 1st quarter, HoldingsChannel reports. The firm owned 1,032,542 shares of the financial services provider’s stock after selling 120,681 shares during the period. Intercontinental Exchange makes up approximately 3.5% of C WorldWide Group Holding A S’s holdings, making the stock its 12th largest holding. C WorldWide Group Holding A S’s holdings in Intercontinental Exchange were worth $162,398,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 0.8% in 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 purchasing an additional 413,639 shares during the period. J. Stern & Co. LLP lifted its stake in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the last quarter. State Street Corp boosted its holdings in shares of Intercontinental Exchange by 3.4% during the 4th quarter. State Street Corp now owns 25,653,952 shares of the financial services provider’s stock worth $4,154,914,000 after buying an additional 837,208 shares during the period. Morgan Stanley grew its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider’s stock valued at $2,571,212,000 after buying an additional 158,450 shares during the last quarter. Finally, Norges Bank bought a new position in Intercontinental Exchange in the 4th quarter valued at about $1,418,228,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $141.63 on Friday. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $189.35. The company’s 50 day moving average price is $141.16 and its two-hundred day moving average price is $154.89. The firm has a market cap of $80.09 billion, a PE ratio of 20.62, a PEG ratio of 1.43 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.72 earnings per share. Equities research analysts predict that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total transaction of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares in the company, valued at $3,945,604.96. This trade represents a 9.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director directly owned 20,132 shares of the company’s stock, valued at $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating for the company in a report on Friday, July 10th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target for the company. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, TD Cowen lowered their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $181.58.

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.