Kovitz Investment Group Partners LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Kovitz Investment Group Partners LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 868,053 shares of the financial services provider’s stock after selling 65,204 shares during the period. Intercontinental Exchange comprises 0.9% of Kovitz Investment Group Partners LLC’s investment portfolio, making the stock its 26th largest holding. Kovitz Investment Group Partners LLC’s holdings in Intercontinental Exchange were worth $137,326,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ICE. Simplicity Wealth LLC increased its stake in Intercontinental Exchange by 1.8% during the 2nd quarter. Simplicity Wealth LLC now owns 9,777 shares of the financial services provider’s stock worth $1,338,000 after buying an additional 170 shares during the period. QRG Capital Management Inc. grew its holdings in Intercontinental Exchange by 1.6% during the 2nd quarter. QRG Capital Management Inc. now owns 15,750 shares of the financial services provider’s stock worth $2,156,000 after acquiring an additional 248 shares in the last quarter. Sendero Wealth Management LLC grew its holdings in Intercontinental Exchange by 2.8% during the 2nd quarter. Sendero Wealth Management LLC now owns 53,037 shares of the financial services provider’s stock worth $7,260,000 after acquiring an additional 1,450 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $82,000. Finally, JGP Wealth Management LLC grew its holdings in Intercontinental Exchange by 1.0% during the 2nd quarter. JGP Wealth Management LLC now owns 77,279 shares of the financial services provider’s stock worth $10,579,000 after acquiring an additional 739 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE:ICE opened at $156.37 on Friday. The stock has a market cap of $89.78 billion, a P/E ratio of 37.05, a P/E/G ratio of 2.58 and a beta of 1.08. 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 1-year low of $111.82 and a 1-year high of $167.99. The firm has a fifty day moving average price of $160.43 and a 200 day moving average price of $152.40.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on ICE shares. TD Cowen started coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays lowered their target price on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Insiders Place Their Bets

In other news, COO Stuart Glen Williams sold 468 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 $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 3.34 % 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 stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $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 quarter, insiders sold 9,696 shares of company stock worth $1,554,559. 1.10% of the stock is owned by insiders.

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.