Intercontinental Exchange Inc. $ICE Shares Sold by James Hambro & Partners LLP

Key Points

• James Hambro & Partners LLP reduced its ICE stake by 1.3%, selling 9,182 shares and retaining 689,312 shares valued at approximately $104.8 million. Institutional investors collectively own 89.3% of Intercontinental Exchange.
• Analyst sentiment remains favorable, with ICE receiving a consensus “Moderate Buy” rating and an average price target of $186.31. Recent target increases came from Goldman Sachs, Barclays, Rothschild & Co. Redburn, and TD Cowen.
• ICE shares fell 1.7% to $158.81, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $1.90 versus the $1.84 consensus estimate, and revenue rose 4.8% year over year to $3.61 billion.

James Hambro & Partners LLP decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 689,312 shares of the financial services provider's stock after selling 9,182 shares during the quarter. Intercontinental Exchange comprises approximately 3.7% of James Hambro & Partners LLP's holdings, making the stock its 13th biggest holding. James Hambro & Partners LLP owned approximately 0.12% of Intercontinental Exchange worth $104,820,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange during the second quarter valued at about $6,245,085,000. USS Investment Management Ltd lifted its stake in shares of Intercontinental Exchange by 37.2% in the first quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider's stock worth $148,960,000 after acquiring an additional 256,851 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Intercontinental Exchange in the first quarter worth about $11,498,000. Swedbank AB lifted its stake in shares of Intercontinental Exchange by 7.6% in the first quarter. Swedbank AB now owns 3,795,369 shares of the financial services provider's stock worth $596,936,000 after acquiring an additional 268,254 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its holdings in 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 during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an "underweight" rating and set a $160.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 14th. The Goldman Sachs Group upped their target price on Intercontinental Exchange from $192.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, October 2nd. Barclays reiterated an "overweight" rating and set a $189.00 target price (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Rothschild & Co Redburn raised their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. Finally, TD Cowen raised their price target on shares of Intercontinental Exchange from $166.00 to $167.00 and gave the stock a "hold" rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.31.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the business's stock in a transaction 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 completion of the sale, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. The trade was a 9.60% 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 link. Also, President Benjamin Jackson sold 12,862 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $160.09, for a total transaction of $2,059,077.58. Following the sale, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,179 shares of company stock worth $6,473,715. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 1.7%

Shares of ICE stock traded down $2.75 during trading hours on Monday, hitting $158.81. 940,194 shares of the company were exchanged, compared to its average volume of 3,773,403. The stock has a market capitalization of $89.16 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 1.48 and a beta of 0.94. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05. The business's 50-day simple moving average is $156.49 and its two-hundred day simple moving average is $150.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Intercontinental Exchange's quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.19 EPS for the current fiscal year.

About Intercontinental Exchange

Intercontinental Exchange, Inc NYSE: ICE is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.

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