Banque Pictet & Cie SA Reduces Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Banque Pictet & Cie SA decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,846 shares of the financial services provider’s stock after selling 878 shares during the quarter. Banque Pictet & Cie SA’s holdings in Intercontinental Exchange were worth $985,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Sandy Spring Bank boosted its holdings in Intercontinental Exchange by 71.4% during the 2nd quarter. Sandy Spring Bank now owns 360 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 150 shares during the period. CX Institutional boosted its holdings in Intercontinental Exchange by 214.2% during the 2nd quarter. CX Institutional now owns 377 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 257 shares during the period. Old North State Trust LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at $36,000. Finally, Harvest Group Wealth Management LLC boosted its holdings in Intercontinental Exchange by 72.3% during the 2nd quarter. Harvest Group Wealth Management LLC now owns 448 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 188 shares during the period. Hedge funds and other institutional investors own 87.13% of the company’s stock.

In related news, COO Mark Wassersug sold 1,526 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $104.56, for a total value of $159,558.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,070 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $97.51, for a total value of $201,845.70. Following the completion of the sale, the general counsel now directly owns 39,512 shares of the company’s stock, valued at approximately $3,852,815.12. The disclosure for this sale can be found here. Insiders have sold 92,212 shares of company stock valued at $9,402,269 in the last three months. Insiders own 1.50% of the company’s stock.

NYSE ICE opened at $101.06 on Friday. The stock has a 50-day moving average of $99.51 and a 200 day moving average of $97.45. Intercontinental Exchange, Inc. has a twelve month low of $63.51 and a twelve month high of $106.99. The stock has a market capitalization of $56.72 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.98 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 29th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Intercontinental Exchange had a return on equity of 13.63% and a net margin of 26.19%. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Intercontinental Exchange, Inc. will post 4.45 EPS for the current fiscal year.

A number of equities research analysts have weighed in on ICE shares. Citigroup lifted their target price on Intercontinental Exchange from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. Rosenblatt Securities boosted their price target on Intercontinental Exchange from $113.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. The Goldman Sachs Group initiated coverage on Intercontinental Exchange in a research report on Monday, October 19th. They issued a “buy” rating and a $123.00 price target for the company. Loop Capital initiated coverage on Intercontinental Exchange in a research report on Friday, September 11th. They issued a “buy” rating for the company. Finally, Zacks Investment Research lowered Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 price target for the company. in a research report on Tuesday, August 11th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $113.00.

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, Singapore, Israel, and Canada. It operates in 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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