Boston Common Asset Management LLC Has $639,000 Position in Intercontinental Exchange Inc. $ICE

Key Points

• Boston Common Asset Management LLC has reduced its position in Intercontinental Exchange Inc. (ICE) by 31.2%, holding 3,485 shares valued at $639,000 after selling 1,582 shares in the second quarter.
• Several institutional investors have adjusted their stakes in ICE, with the ownership of institutional investors now at 89.30% of the company's stock.
• Intercontinental Exchange reported $1.81 earnings per share for its last quarter, surpassing analysts' estimates, and characterized this growth with a 9.8% increase in revenue year-over-year.

Boston Common Asset Management LLC reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 31.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,485 shares of the financial services provider's stock after selling 1,582 shares during the quarter. Boston Common Asset Management LLC's holdings in Intercontinental Exchange were worth $639,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ICE. Tritonpoint Wealth LLC increased its holdings in Intercontinental Exchange by 1.4% during the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider's stock worth $798,000 after purchasing an additional 58 shares in the last quarter. RB Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 1.3% during the second quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock worth $841,000 after buying an additional 59 shares in the last quarter. Chemistry Wealth Management LLC raised its position in Intercontinental Exchange by 0.8% in the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider's stock valued at $1,440,000 after buying an additional 60 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in Intercontinental Exchange by 1.9% in the 2nd quarter. Institute for Wealth Management LLC. now owns 3,255 shares of the financial services provider's stock valued at $597,000 after acquiring an additional 60 shares in the last quarter. Finally, Fielder Capital Group LLC boosted its position in Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.9%

Intercontinental Exchange stock opened at $162.47 on Monday. The stock has a 50-day simple moving average of $176.53 and a 200 day simple moving average of $174.67. The stock has a market capitalization of $93.00 billion, a P/E ratio of 31.18, a PEG ratio of 1.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the firm posted $1.52 earnings per share. The business's revenue was up 9.8% on a year-over-year basis. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ICE. Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. Barclays raised their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $195.00 to $203.00 and gave the company an "overweight" rating in a research report on Thursday, September 25th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $198.20.

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.

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