iA Global Asset Management Inc. Sells 49,371 Shares of Intercontinental Exchange Inc. $ICE

iA Global Asset Management Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 20.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 188,367 shares of the financial services provider’s stock after selling 49,371 shares during the period. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $31,736,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Princeton Global Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $28,000. Westside Investment Management Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $29,000. Hilltop National Bank acquired a new position in Intercontinental Exchange in the 2nd quarter valued at $31,000. Knuff & Co LLC grew its holdings in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares in the last quarter. Finally, Private Wealth Management Group LLC increased its position in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares during the period. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $156.67, for a total transaction of $837,401.15. Following the completion of the sale, the chief technology officer owned 65,240 shares in the company, valued at approximately $10,221,150.80. The trade was a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 166,068 shares of company stock worth $25,470,702 in the last three months. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $174.44 on Friday. The firm has a 50 day moving average of $161.48 and a 200-day moving average of $167.30. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $99.46 billion, a PE ratio of 31.77, a PEG ratio of 2.09 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business posted $1.55 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICE shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. UBS Group reiterated a “buy” rating on shares of Intercontinental Exchange in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Morgan Stanley set a $180.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $193.50.

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.