Intercontinental Exchange Inc. $ICE Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,185 shares of the financial services provider’s stock after selling 4,228 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Intercontinental Exchange were worth $27,723,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. J. Stern & Co. LLP lifted its stake in shares of Intercontinental Exchange by 17,398.1% in the fourth 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 in the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $1,418,228,000. Viking Global Investors LP purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $777,926,000. Boston Partners raised its holdings in Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock valued at $519,701,000 after acquiring an additional 1,914,851 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Intercontinental Exchange by 569.8% in the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock valued at $358,142,000 after acquiring an additional 1,880,835 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $151.33 on Thursday. The company’s 50-day moving average is $140.05 and its two-hundred day moving average is $152.37. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $183.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $84.96 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 EPS. Analysts forecast that Intercontinental Exchange Inc. will post 8.08 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent research reports. Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a report on Thursday, June 11th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. The Goldman Sachs Group reduced their price objective on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings raised Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 28th. Finally, TD Cowen restated a “buy” rating and issued a $177.00 target price (up from $159.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $183.33.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 7,300 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares of the company’s stock, valued at $2,838,099.44. This trade represents a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of Intercontinental Exchange stock in a transaction on 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 $6,891,887.88. This represents a 9.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,454 shares of company stock valued at $2,469,349 in the last ninety days. Company insiders own 0.84% of the company’s stock.

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.