Intercontinental Exchange Inc. $ICE Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,067,039 shares of the financial services provider’s stock after selling 8,798 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Intercontinental Exchange worth $195,770,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ICE. AlphaCore Capital LLC increased its stake in Intercontinental Exchange by 38.9% in the second quarter. AlphaCore Capital LLC now owns 3,424 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 959 shares during the last quarter. Mufg Securities Americas Inc. boosted its stake in Intercontinental Exchange by 25.0% in the 2nd quarter. Mufg Securities Americas Inc. now owns 12,713 shares of the financial services provider’s stock worth $2,332,000 after buying an additional 2,543 shares during the last quarter. Evelyn Partners Investment Management LLP grew its holdings in Intercontinental Exchange by 365.9% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 955 shares of the financial services provider’s stock valued at $175,000 after buying an additional 750 shares during the period. Journey Strategic Wealth LLC increased its stake in shares of Intercontinental Exchange by 129.0% during the 2nd quarter. Journey Strategic Wealth LLC now owns 3,858 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 2,173 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Intercontinental Exchange by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock valued at $644,096,000 after acquiring an additional 137,685 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on ICE. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Morgan Stanley cut their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Barclays set a $183.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. Finally, Keefe, Bruyette & Woods raised Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $194.70.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the completion of the sale, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total value of $363,100.24. Following the completion of the sale, the director owned 14,299 shares of the company’s stock, valued at approximately $2,550,083.66. This trade represents a 12.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 175,258 shares of company stock valued at $27,146,307 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $154.57 on Friday. The firm has a fifty day moving average of $158.04 and a 200-day moving average of $172.04. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $88.13 billion, a P/E ratio of 29.67, a PEG ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The business’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.