Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% in the first quarter, Holdings Channel.com reports. The fund owned 317,219 shares of the financial services provider’s stock after selling 2,602 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Intercontinental Exchange were worth $43,595,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Comprehensive Financial Consultants Institutional Inc. increased its holdings in Intercontinental Exchange by 4.3% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,676 shares of the financial services provider’s stock valued at $2,017,000 after purchasing an additional 600 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $2,177,000. Nikko Asset Management Americas Inc. lifted its stake in Intercontinental Exchange by 25.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 154,542 shares of the financial services provider’s stock worth $21,239,000 after acquiring an additional 30,920 shares in the last quarter. Financial Counselors Inc. boosted its holdings in Intercontinental Exchange by 12.4% during the 1st quarter. Financial Counselors Inc. now owns 4,384 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 485 shares during the period. Finally, Magnolia Capital Advisors LLC grew its position in Intercontinental Exchange by 24.3% in the 1st quarter. Magnolia Capital Advisors LLC now owns 7,939 shares of the financial services provider’s stock valued at $1,042,000 after acquiring an additional 1,550 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on ICE shares. Argus reissued a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods reduced their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Citigroup raised their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $151.43.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the sale, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at approximately $3,882,209.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,506 shares of company stock worth $609,374. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

ICE traded up $1.32 on Wednesday, hitting $143.78. 1,234,375 shares of the company traded hands, compared to its average volume of 2,343,669. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $143.80. The company has a 50 day moving average of $135.81 and a 200-day moving average of $133.74. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $82.47 billion, a PE ratio of 32.67, a PEG ratio of 2.63 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 earnings per share 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.