C WorldWide Group Holding A S Has $162.40 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• C WorldWide Group Holding A S trimmed its Intercontinental Exchange stake by 10.5% in the first quarter, but still held 1.03 million shares worth about $162.4 million, making ICE its 12th-largest position.
• Intercontinental Exchange posted strong first-quarter results, reporting EPS of $2.35 versus expectations of $2.23 and revenue of $3.67 billion, with revenue rising 20.4% year over year.
• Analyst sentiment remains mixed but positive overall: several firms cut price targets, yet the stock still carries a consensus “Moderate Buy” rating with an average target price of $181.58.

C WorldWide Group Holding A S reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,032,542 shares of the financial services provider's stock after selling 120,681 shares during the quarter. Intercontinental Exchange accounts for 3.5% of C WorldWide Group Holding A S's portfolio, making the stock its 12th largest position. C WorldWide Group Holding A S owned approximately 0.18% of Intercontinental Exchange worth $162,398,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Intercontinental Exchange by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider's stock worth $8,770,647,000 after acquiring an additional 413,639 shares during the last quarter. J. Stern & Co. LLP grew its stake in shares of Intercontinental Exchange by 17,398.1% during the 4th quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider's stock worth $8,763,214,000 after acquiring an additional 53,798,055 shares in the last quarter. State Street Corp raised its holdings in shares of Intercontinental Exchange by 3.4% in the fourth quarter. State Street Corp now owns 25,653,952 shares of the financial services provider's stock valued at $4,154,914,000 after purchasing an additional 837,208 shares during the last quarter. Morgan Stanley raised its holdings in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Morgan Stanley now owns 15,875,593 shares of the financial services provider's stock valued at $2,571,212,000 after purchasing an additional 158,450 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $1,418,228,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at approximately $2,280,848.56. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer owned 25,189 shares of the company's stock, valued at $3,945,604.96. The trade was a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,425 shares of company stock worth $2,046,324 over the last ninety days. Company insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. Weiss Ratings cut shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Morgan Stanley cut their price target on shares of 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. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday, June 11th. Barclays reduced their price objective on shares of Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. Finally, TD Cowen lowered their target price on Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating on the stock in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $181.58.

Intercontinental Exchange Trading Up 1.3%

NYSE ICE opened at $141.63 on Friday. Intercontinental Exchange Inc. has a 12 month low of $121.79 and a 12 month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average of $141.16 and a 200-day moving average of $154.89. The company has a market cap of $80.09 billion, a PE ratio of 20.62, a PEG ratio of 1.43 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 earnings per share. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Intercontinental Exchange 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.

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