Intercontinental Exchange Inc. $ICE is M.D. Sass LLC’s 10th Largest Position

M.D. Sass LLC decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 343,433 shares of the financial services provider’s stock after selling 16,603 shares during the period. Intercontinental Exchange comprises about 5.0% of M.D. Sass LLC’s holdings, making the stock its 10th largest position. M.D. Sass LLC owned approximately 0.06% of Intercontinental Exchange worth $63,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Advisors Capital Management LLC boosted its position in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 396 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of Intercontinental Exchange by 1.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after purchasing an additional 13,497 shares during the last quarter. Trillium Asset Management LLC raised its stake in shares of Intercontinental Exchange by 12.0% during the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after purchasing an additional 29,250 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Intercontinental Exchange by 6.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after buying an additional 55,057 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of Intercontinental Exchange by 19.7% in the 2nd quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock worth $53,961,000 after buying an additional 48,344 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.8%

Shares of ICE stock opened at $157.51 on Monday. The stock has a market capitalization of $89.81 billion, a price-to-earnings ratio of 30.23, a PEG ratio of 2.11 and a beta of 1.06. The company’s fifty day simple moving average is $156.50 and its two-hundred day simple moving average is $171.33. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly 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 return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the sale, the senior vice president directly owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 170,944 shares of company stock worth $26,338,174. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. Wall Street Zen downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Profile

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.