Anchor Investment Management LLC Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Anchor Investment Management LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 8,395 shares of the financial services provider’s stock after selling 215 shares during the period. Anchor Investment Management LLC’s holdings in Intercontinental Exchange were worth $1,348,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp raised its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. FMR LLC increased its position in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC increased its position in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Intercontinental Exchange by 326.3% during the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after acquiring an additional 3,460,096 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. This represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This trade represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,901 shares of company stock valued at $1,582,542. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $156.55 on Friday. The stock has a 50 day moving average of $160.18 and a 200 day moving average of $153.08. Intercontinental Exchange, Inc. has a 12 month low of $117.49 and a 12 month high of $167.99. The firm has a market cap of $89.89 billion, a PE ratio of 37.10, a PEG ratio of 2.61 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on ICE shares. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays boosted their price target on Intercontinental Exchange from $173.00 to $187.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Bank of America boosted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.07.

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.