Intercontinental Exchange Inc. $ICE is Cantillon Capital Management LLC's 10th Largest Position

Key Points

• Cantillon Capital Management cut its Intercontinental Exchange stake by 11.9% in the first quarter, but ICE remains its 10th largest holding and about 3.1% of its portfolio.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average target price of $181.58, though some firms recently lowered their price targets.
• Intercontinental Exchange reported strong quarterly results, beating EPS and revenue estimates, while insiders also sold shares over the past few months.

Cantillon Capital Management LLC lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,941,954 shares of the financial services provider's stock after selling 396,028 shares during the quarter. Intercontinental Exchange accounts for approximately 3.1% of Cantillon Capital Management LLC's holdings, making the stock its 10th largest holding. Cantillon Capital Management LLC owned 0.52% of Intercontinental Exchange worth $462,711,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ares Financial Consulting LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Steph & Co. boosted its stake in Intercontinental Exchange by 104.7% in the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after purchasing an additional 89 shares in the last quarter. Brooklands Fund Management Ltd acquired a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Finally, Dorato Capital Management purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. TD Cowen lowered their price objective on shares of Intercontinental Exchange from $193.00 to $153.00 and set a "buy" rating for the company in a research note on Monday, June 22nd. UBS Group dropped their price objective on shares of Intercontinental Exchange from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a research report on Monday, July 6th. Finally, Rothschild & Co Redburn set a $177.00 target price on Intercontinental Exchange in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.58.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $139.55 on Monday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $189.35. The company's 50 day moving average is $140.83 and its 200 day moving average is $154.71. 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 company has a market cap of $78.92 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.44 and a beta of 0.94.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business's quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

Insider Transactions at Intercontinental Exchange

In related news, Director William Jefferson Hague sold 1,333 shares of the firm's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares of the company's stock, valued at $2,807,608.72. This trade represents a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sharon Bowen sold 667 shares of the business's stock in a transaction 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 transaction, the director owned 15,077 shares of the company's stock, valued at $2,280,848.56. This represents a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is owned by corporate insiders.

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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