EFG Asset Management Americas Corp. Reduces Stock Position in Intercontinental Exchange Inc (NYSE:ICE)

EFG Asset Management Americas Corp. lessened its stake in Intercontinental Exchange Inc (NYSE:ICE) by 1.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,928 shares of the financial services provider’s stock after selling 808 shares during the quarter. Intercontinental Exchange makes up about 2.1% of EFG Asset Management Americas Corp.’s holdings, making the stock its 7th largest position. EFG Asset Management Americas Corp.’s holdings in Intercontinental Exchange were worth $7,098,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 0.9% in the second quarter. Vanguard Group Inc. now owns 43,084,259 shares of the financial services provider’s stock valued at $3,702,660,000 after purchasing an additional 382,604 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Intercontinental Exchange by 3.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 39,511,852 shares of the financial services provider’s stock worth $3,395,649,000 after acquiring an additional 1,501,237 shares during the period. BlackRock Inc. lifted its holdings in Intercontinental Exchange by 1.5% during the second quarter. BlackRock Inc. now owns 33,727,734 shares of the financial services provider’s stock worth $2,898,562,000 after acquiring an additional 488,675 shares during the period. Invesco Ltd. lifted its holdings in Intercontinental Exchange by 143.0% during the second quarter. Invesco Ltd. now owns 6,510,255 shares of the financial services provider’s stock worth $559,491,000 after acquiring an additional 3,831,538 shares during the period. Finally, Veritas Asset Management LLP lifted its holdings in Intercontinental Exchange by 5.3% during the third quarter. Veritas Asset Management LLP now owns 5,075,400 shares of the financial services provider’s stock worth $468,307,000 after acquiring an additional 254,600 shares during the period. Institutional investors own 90.74% of the company’s stock.

ICE has been the subject of a number of recent research reports. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their target price on Intercontinental Exchange from $97.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. UBS Group set a $108.00 target price on Intercontinental Exchange and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup set a $101.00 target price on Intercontinental Exchange and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Oppenheimer initiated coverage on Intercontinental Exchange in a research report on Monday, September 16th. They issued an “outperform” rating and a $100.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $95.46.

In other news, General Counsel Andrew J. Surdykowski sold 1,100 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $93.82, for a total value of $103,202.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 40,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $92.41, for a total value of $3,696,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,040 shares of company stock valued at $11,459,809. 1.50% of the stock is owned by company insiders.

NYSE:ICE opened at $91.18 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day simple moving average of $92.76 and a two-hundred day simple moving average of $88.78. Intercontinental Exchange Inc has a 1 year low of $69.69 and a 1 year high of $95.56. The company has a market capitalization of $50.38 billion, a P/E ratio of 25.40, a P/E/G ratio of 2.80 and a beta of 0.49.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.11. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Intercontinental Exchange had a return on equity of 12.79% and a net margin of 31.97%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, analysts anticipate that Intercontinental Exchange Inc will post 3.9 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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

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