Nixon Peabody Trust Co. Trims Stake in Intercontinental Exchange Inc. $ICE

Nixon Peabody Trust Co. cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,612 shares of the financial services provider’s stock after selling 5,523 shares during the quarter. Intercontinental Exchange makes up approximately 1.1% of Nixon Peabody Trust Co.’s investment portfolio, making the stock its 22nd largest position. Nixon Peabody Trust Co.’s holdings in Intercontinental Exchange were worth $14,251,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Ares Financial Consulting LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. Holos Integrated Wealth LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Steph & Co. boosted its holdings in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock worth $28,000 after buying an additional 89 shares in the last quarter. Brooklands Fund Management Ltd purchased a new stake in Intercontinental Exchange during the fourth quarter worth $28,000. Finally, Swiss RE Ltd. acquired a new stake in Intercontinental Exchange during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $132.57 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $144.62 and a 200 day moving average of $156.46. The firm has a market cap of $74.97 billion, a PE ratio of 19.30, a PEG ratio of 1.24 and a beta of 0.94. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm posted $1.72 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.37 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the transaction, the director owned 15,077 shares in the company, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 4,271 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,425 shares of company stock valued at $2,046,324. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a report on Friday, March 6th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price on the stock. TD Cowen cut their price target on Intercontinental Exchange from $193.00 to $153.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reduced their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.58.

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.