Intercontinental Exchange Inc. $ICE Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,033 shares of the financial services provider’s stock after selling 4,231 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Intercontinental Exchange were worth $2,894,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. BlackRock Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $6,245,085,000. State Street Corp increased its holdings in shares of Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after buying an additional 415,490 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Intercontinental Exchange by 16.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock valued at $1,454,209,000 after acquiring an additional 1,634,385 shares during the last quarter. Amundi lifted its stake in shares of Intercontinental Exchange by 49.6% in the 1st quarter. Amundi now owns 4,997,079 shares of the financial services provider’s stock valued at $785,941,000 after acquiring an additional 1,656,220 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $714,869,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.0%

Shares of NYSE:ICE traded down $1.56 during mid-day trading on Tuesday, reaching $156.84. 1,549,146 shares of the company’s stock were exchanged, compared to its average volume of 3,772,537. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.05. The firm has a market capitalization of $88.05 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.48 and a beta of 0.94. The business’s fifty day moving average price is $156.65 and its 200-day moving average price is $150.83.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. Intercontinental Exchange’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.81 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 8.19 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the transaction, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 12,862 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the completion of the transaction, the president owned 164,264 shares in the company, valued at approximately $26,297,023.76. The trade was a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,179 shares of company stock valued at $6,473,715 over the last ninety days. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ICE shares. Morgan Stanley raised their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the company an “equal weight” rating in a report on Friday, October 9th. Wells Fargo & Company reiterated an “underweight” rating and issued a $160.00 target price (up from $159.00) on shares of Intercontinental Exchange in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. UBS Group reissued a “buy” rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Raymond James Financial reduced their price target on Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating on the stock in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.31.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.