Alyeska Investment Group L.P. Sells 243,221 Shares of Intercontinental Exchange Inc. $ICE

Alyeska Investment Group L.P. lessened its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 92.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,302 shares of the financial services provider's stock after selling 243,221 shares during the quarter. Alyeska Investment Group L.P.'s holdings in Intercontinental Exchange were worth $2,499,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Flputnam Investment Management Co. boosted its stake in shares of Intercontinental Exchange by 553.9% during the 2nd quarter. Flputnam Investment Management Co. now owns 108,802 shares of the financial services provider's stock worth $13,395,000 after buying an additional 92,163 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Intercontinental Exchange by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 324,570 shares of the financial services provider's stock worth $39,958,000 after acquiring an additional 3,897 shares in the last quarter. Wedbush Securities Inc. boosted its position in Intercontinental Exchange by 24.7% during the second quarter. Wedbush Securities Inc. now owns 7,828 shares of the financial services provider's stock valued at $964,000 after purchasing an additional 1,553 shares during the last quarter. Meiji Yasuda Life Insurance Co acquired a new position in Intercontinental Exchange during the second quarter valued at approximately $330,000. Finally, Capital Advisors Inc. OK grew its stake in Intercontinental Exchange by 3.5% in the second quarter. Capital Advisors Inc. OK now owns 2,347 shares of the financial services provider's stock valued at $289,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $151.20, for a total transaction of $645,775.20. Following the transaction, the chief technology officer owned 67,988 shares in the company, valued at $10,279,785.60. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 7,300 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total value of $1,086,824.00. Following the sale, the senior vice president directly owned 19,063 shares of the company's stock, valued at $2,838,099.44. This represents a 27.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,141 shares of company stock valued at $3,554,192 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of recent analyst reports. Rothschild & Co Redburn set a $177.00 price target on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Weiss Ratings raised shares of Intercontinental Exchange from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 25th. Raymond James Financial reiterated a "strong-buy" rating and issued a $218.00 target price on shares of Intercontinental Exchange in a research note on Tuesday. The Goldman Sachs Group reduced their price target on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $184.17.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $159.21 on Wednesday. The company has a market cap of $89.38 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.56 and a beta of 0.93. The firm's fifty day moving average price is $146.01 and its two-hundred day moving average price is $151.40. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $177.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. Equities analysts expect that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source