Intercontinental Exchange Inc. $ICE Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 22.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 736,188 shares of the financial services provider’s stock after selling 214,398 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of Intercontinental Exchange worth $116,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 purchasing an additional 413,639 shares during the last quarter. J. Stern & Co. LLP lifted its position in shares of Intercontinental Exchange by 17,398.1% in 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 lifted its holdings in 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 acquiring an additional 837,208 shares during the last quarter. Morgan Stanley boosted its position in Intercontinental Exchange by 1.0% during 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 purchasing an additional 158,450 shares during the period. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $1,418,228,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, 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 sale, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. The trade was a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares of the company’s stock, valued at $6,891,887.88. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley decreased 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. TD Cowen dropped their price objective on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a report on Thursday, June 11th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Finally, UBS Group lowered their target price on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $139.55 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1 year low of $121.79 and a 1 year high of $189.35. The business has a fifty day simple moving average of $140.83 and a 200 day simple moving average of $154.78. The firm has a market cap of $78.92 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.46 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current fiscal year.

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.