Intercontinental Exchange Inc. (ICE) Shares Sold by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,715 shares of the financial services provider’s stock after selling 10,500 shares during the quarter. Pictet Asset Management Ltd. owned about 0.05% of Intercontinental Exchange worth $21,690,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. IHT Wealth Management LLC raised its stake in Intercontinental Exchange by 10.8% during the 2nd quarter. IHT Wealth Management LLC now owns 185 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 18 shares in the last quarter. Thompson Davis & CO. Inc. raised its stake in Intercontinental Exchange by 2.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,517 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 32 shares in the last quarter. Norway Savings Bank raised its stake in Intercontinental Exchange by 16.7% during the 2nd quarter. Norway Savings Bank now owns 1,640 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 235 shares in the last quarter. Bessemer Group Inc. raised its stake in Intercontinental Exchange by 186.5% during the 2nd quarter. Bessemer Group Inc. now owns 1,905 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,240 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $128,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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Shares of Intercontinental Exchange Inc. (NYSE ICE) opened at $66.24 on Friday. The firm has a market cap of $38,752.12, a PE ratio of 22.68, a PEG ratio of 2.41 and a beta of 0.71. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Intercontinental Exchange Inc. has a fifty-two week low of $53.27 and a fifty-two week high of $71.24.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. Intercontinental Exchange had a net margin of 27.91% and a return on equity of 11.01%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. sell-side analysts expect that Intercontinental Exchange Inc. will post 2.95 EPS for the current year.

Intercontinental Exchange announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 2nd that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other news, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $64.32, for a total value of $804,000.00. Following the sale, the insider now owns 382,471 shares of the company’s stock, valued at $24,600,534.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 80,420 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $65.24, for a total transaction of $5,246,600.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,050 shares of company stock worth $9,557,830. Insiders own 1.50% of the company’s stock.

Several equities research analysts recently commented on ICE shares. Citigroup Inc. started coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price target on the stock. Barclays PLC started coverage on shares of Intercontinental Exchange in a research note on Friday, September 8th. They issued an “overweight” rating and a $72.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, August 23rd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $73.00 price objective on shares of Intercontinental Exchange in a research note on Sunday, October 8th. Finally, Zacks Investment Research lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $73.30.

Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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