Cannell & Spears LLC Has $43.08 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Cannell & Spears LLC reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,349 shares of the financial services provider's stock after selling 16,914 shares during the quarter. Cannell & Spears LLC's holdings in Intercontinental Exchange were worth $43,081,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. J. Stern & Co. LLP lifted its holdings in 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 purchasing an additional 53,798,055 shares during the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter valued at $1,418,228,000. Viking Global Investors LP acquired a new position in Intercontinental Exchange in the 4th quarter valued at $777,926,000. Boston Partners increased its position in Intercontinental Exchange by 148.6% during the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider's stock worth $519,701,000 after buying an additional 1,914,851 shares during the period. Finally, Focus Partners Wealth increased its position in Intercontinental Exchange by 569.8% during the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider's stock worth $358,142,000 after buying an additional 1,880,835 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ICE shares. Rothschild & Co Redburn set a $177.00 target price on shares of Intercontinental Exchange in a research report on Thursday, June 11th. The Goldman Sachs Group lowered their price target on shares of Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley dropped their price objective on shares of Intercontinental Exchange from $187.00 to $163.00 and set an "equal weight" rating for the company in a research note on Friday, July 10th. TD Cowen cut their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating for the company in a report on Monday, June 22nd. Finally, Barclays decreased their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.58.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $151.28, for a total transaction of $100,903.76. Following the sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,425 shares of company stock worth $2,046,324. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Stock Performance

ICE opened at $145.93 on Friday. The firm has a market cap of $82.53 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94. Intercontinental Exchange Inc. has a 52-week low of $121.79 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The business's fifty day moving average is $139.50 and its 200-day moving average is $154.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Intercontinental Exchange's revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 8.01 EPS for the current fiscal year.

About Intercontinental Exchange

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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