Intercontinental Exchange Inc. $ICE Stock: One Way Holdings LLC Cuts Stake

One Way Holdings LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 11.8% in the third quarter, Holdings Channel reports. The firm owned 36,537 shares of the financial services provider’s stock after selling 4,907 shares during the quarter. One Way Holdings LLC’s holdings in Intercontinental Exchange were worth $5,555,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $6,245,085,000. State Street Corp lifted its stake in Intercontinental Exchange by 1.6% during the second quarter. State Street Corp now owns 25,966,680 shares of the financial services provider’s stock worth $3,196,758,000 after purchasing an additional 415,490 shares during the last quarter. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 16.1% during the second quarter. Wellington Management Group LLP now owns 11,812,273 shares of the financial services provider’s stock worth $1,454,209,000 after purchasing an additional 1,634,385 shares during the last quarter. Amundi boosted its holdings in shares of Intercontinental Exchange by 49.6% in the 1st quarter. Amundi now owns 4,997,079 shares of the financial services provider’s stock valued at $785,941,000 after purchasing an additional 1,656,220 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $714,869,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ICE. Bank of America upped their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Wells Fargo & Company lifted their price target on shares of Intercontinental Exchange from $160.00 to $167.00 and gave the company an “underweight” rating in a report on Friday. Jefferies Financial Group dropped their price objective on shares of Intercontinental Exchange from $189.00 to $185.00 in a research note on Wednesday, October 7th. UBS Group reissued a “buy” rating and set a $195.00 price objective (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an “equal weight” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.25.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Edmonds sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $160.59, for a total value of $802,950.00. Following the transaction, the insider owned 14,367 shares in the company, valued at approximately $2,307,196.53. This represents a 25.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the sale, the president directly owned 164,264 shares of the company’s stock, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 41,179 shares of company stock worth $6,473,715 in the last quarter. Company insiders own 0.84% of the company’s stock.

Intercontinental Exchange Stock Down 0.1%

Shares of Intercontinental Exchange stock opened at $168.64 on Monday. The firm has a market cap of $94.25 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.56 and a beta of 0.84. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05. The stock’s 50-day moving average is $157.56 and its 200 day moving average is $154.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.03 and a quick ratio of 1.03.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 29th. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $2.74 billion. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. Intercontinental Exchange’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.71 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.21 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.