Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 38.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,624 shares of the financial services provider’s stock after selling 59,597 shares during the period. NFJ Investment Group LLC’s holdings in Intercontinental Exchange were worth $15,200,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ICE. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth $26,000. Financial Management Professionals Inc. grew its position in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after buying an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $25,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ICE. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th. TD Cowen initiated coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Bank of America raised their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,696 shares of company stock valued at $1,554,559. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $0.55 on Tuesday, reaching $157.74. The stock had a trading volume of 372,810 shares, compared to its average volume of 2,569,426. The stock has a market cap of $90.57 billion, a P/E ratio of 37.51, a price-to-earnings-growth ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day moving average price is $160.62 and its two-hundred day moving average price is $152.07.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.