Bank Pictet & Cie Europe AG Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Bank Pictet & Cie Europe AG cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 15.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,539 shares of the financial services provider’s stock after selling 8,042 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Intercontinental Exchange were worth $7,335,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Optivise Advisory Services LLC increased its holdings in shares of Intercontinental Exchange by 3.1% in the 2nd quarter. Optivise Advisory Services LLC now owns 1,794 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. ICONIQ Capital LLC boosted its position in shares of Intercontinental Exchange by 2.2% during the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after buying an additional 56 shares during the last quarter. Tritonpoint Wealth LLC increased its holdings in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider’s stock worth $798,000 after buying an additional 58 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Intercontinental Exchange by 5.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock worth $221,000 after buying an additional 58 shares during the last quarter. Finally, RB Capital Management LLC lifted its stake in Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider’s stock valued at $841,000 after acquiring an additional 59 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. UBS Group decreased their target price on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Barclays set a $183.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $194.30.

Intercontinental Exchange Trading Down 0.6%

Shares of ICE stock opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $92.43 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 2.28 and a beta of 1.03. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a fifty day moving average price of $156.21 and a 200-day moving average price of $168.62.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.79% and a net margin of 25.24%.The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $163.20, for a total transaction of $261,120.00. Following the transaction, the senior vice president owned 24,196 shares of the company’s stock, valued at $3,948,787.20. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total transaction of $22,962,000.00. Following the completion of the transaction, the chief executive officer owned 1,801,705 shares of the company’s stock, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 176,150 shares of company stock worth $27,072,531. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange 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.