Intercontinental Exchange Inc. $ICE Stake Lowered by Andra AP fonden

Andra AP fonden cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 44.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,900 shares of the financial services provider’s stock after selling 28,400 shares during the quarter. Andra AP fonden’s holdings in Intercontinental Exchange were worth $5,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Glenview Trust Co lifted its holdings in shares of Intercontinental Exchange by 3.1% during the 1st quarter. Glenview Trust Co now owns 6,975 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 213 shares during the last quarter. Long Road Investment Counsel LLC lifted its stake in Intercontinental Exchange by 2.3% in the first quarter. Long Road Investment Counsel LLC now owns 50,735 shares of the financial services provider’s stock valued at $7,980,000 after acquiring an additional 1,150 shares during the last quarter. Summit Global Investments grew its position in Intercontinental Exchange by 10.5% in the first quarter. Summit Global Investments now owns 2,859 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 271 shares in the last quarter. Johnson Financial Group Inc. grew its position in Intercontinental Exchange by 89.1% in the first quarter. Johnson Financial Group Inc. now owns 10,610 shares of the financial services provider’s stock worth $1,669,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Florida Financial Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth $225,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. Barclays reduced their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. 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 report on Tuesday, July 7th. The Goldman Sachs Group cut their target price on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings cut Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. One equities research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.58.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $142.51 on Thursday. The company has a market capitalization of $80.59 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35. The company’s fifty day moving average price is $139.92 and its 200 day moving average price is $154.26.

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

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the sale, the general counsel owned 45,473 shares in the company, valued at approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Jefferson Hague sold 1,333 shares of Intercontinental Exchange stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the sale, the director directly owned 20,132 shares in the company, valued at approximately $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Company 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.