Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Lazard Freres Gestion S.A.S.

Lazard Freres Gestion S.A.S. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 462,191 shares of the financial services provider’s stock after selling 32,403 shares during the period. Intercontinental Exchange makes up 1.6% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 21st biggest holding. Lazard Freres Gestion S.A.S. owned approximately 0.08% of Intercontinental Exchange worth $74,246,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ICE. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the transaction, the insider now owns 14,034 shares in the company, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,868 shares of company stock worth $622,079. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of a number of recent research reports. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen started coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Finally, Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $0.47 on Tuesday, reaching $159.16. The company’s stock had a trading volume of 73,175 shares, compared to its average volume of 2,562,637. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $111.82 and a 52-week high of $167.99. The stock’s 50-day moving average is $160.59 and its two-hundred day moving average is $151.34. The stock has a market capitalization of $91.39 billion, a P/E ratio of 37.82, a PEG ratio of 2.63 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Company 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.