Sentry Investment Management LLC Sells 564 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sentry Investment Management LLC decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,752 shares of the financial services provider’s stock after selling 564 shares during the quarter. Sentry Investment Management LLC’s holdings in Intercontinental Exchange were worth $377,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ICE. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Intercontinental Exchange by 8.5% during the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after buying an additional 1,991 shares in the last quarter. Point72 Europe London LLP increased its stake in Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock worth $8,515,000 after acquiring an additional 6,500 shares during the last quarter. Perpetual Ltd raised its holdings in shares of Intercontinental Exchange by 0.4% during the 1st quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after acquiring an additional 6,272 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Citigroup increased their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Finally, Barclays raised their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $154.93.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,096 shares of company stock worth $9,593,983. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $159.93 on Thursday. The firm’s 50 day simple moving average is $153.39 and its 200-day simple moving average is $141.67. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $104.49 and a one year high of $163.71. The firm has a market cap of $91.73 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Intercontinental Exchange Company 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.