Intercontinental Exchange Inc. $ICE Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its Intercontinental Exchange stake by 5% in the second quarter, selling 21,706 shares and retaining 414,860 shares valued at approximately $51.1 million.
• Institutional ownership remains high at 89.3%, with several investors increasing their positions, including California State Teachers Retirement System, Saudi Central Bank and Munich Reinsurance.
• ICE reported quarterly EPS of $1.90, exceeding the $1.84 consensus estimate, while revenue rose 4.8% year over year to $3.61 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $184.17.

Corient Private Wealth LP reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 414,860 shares of the financial services provider's stock after selling 21,706 shares during the period. Corient Private Wealth LP owned approximately 0.07% of Intercontinental Exchange worth $51,137,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its position in Intercontinental Exchange by 11,968.7% during the second quarter. California State Teachers Retirement System now owns 108,380,996 shares of the financial services provider's stock worth $13,342,784,000 after purchasing an additional 107,482,962 shares in the last quarter. Saudi Central Bank raised its stake in shares of Intercontinental Exchange by 88.4% during the 2nd quarter. Saudi Central Bank now owns 39,650 shares of the financial services provider's stock worth $4,881,000 after buying an additional 18,604 shares during the last quarter. NBH Bank acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $751,000. AlphaGrep UK Ltd purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $889,000. Finally, Munich Reinsurance Co Stock Corp in Munich lifted its holdings in shares of Intercontinental Exchange by 35.5% in the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 331,547 shares of the financial services provider's stock valued at $40,817,000 after purchasing an additional 86,897 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $157.49 on Friday. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.59. The business's fifty day moving average price is $151.14 and its 200 day moving average price is $151.76. 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 market capitalization of $88.41 billion, a P/E ratio of 22.24, a PEG ratio of 1.53 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. Intercontinental Exchange's revenue for the quarter was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. Weiss Ratings lowered Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Saturday, September 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, UBS Group reiterated a "buy" rating and set a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $184.17.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total value of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company's stock, valued at $10,279,785.60. This trade represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew Surdykowski sold 4,574 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. This represents a 9.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,579 shares of company stock worth $6,217,715 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.

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