Intercontinental Exchange Inc. $ICE Stock Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding cut its Intercontinental Exchange stake by 46.3% in the third quarter, selling 822,982 shares and retaining 954,829 shares valued at approximately $145.2 million.
• Institutional investors own 89.3% of ICE, while company insiders sold 41,179 shares worth about $6.47 million during the last quarter.
• ICE reported quarterly earnings of $1.90 per share, exceeding estimates of $1.84, while revenue rose 4.8% year over year to $3.61 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $186.31.

Vontobel Holding Ltd. lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 46.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 954,829 shares of the financial services provider's stock after selling 822,982 shares during the period. Vontobel Holding Ltd. owned 0.17% of Intercontinental Exchange worth $145,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. BlackRock Inc. bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. USS Investment Management Ltd increased its holdings in shares of Intercontinental Exchange by 37.2% in the 1st quarter. USS Investment Management Ltd now owns 946,920 shares of the financial services provider's stock valued at $148,960,000 after purchasing an additional 256,851 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new position in Intercontinental Exchange in the first quarter valued at about $11,498,000. Munich Reinsurance Co Stock Corp in Munich lifted its stake 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 acquiring an additional 86,897 shares during the last quarter. Finally, Swedbank AB boosted its holdings in 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 purchasing an additional 268,254 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related 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 value of $739,935.98. Following the sale, the general counsel owned 43,065 shares of the company's stock, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $645,775.20. Following the sale, the chief technology officer directly owned 67,988 shares of the company's stock, valued at $10,279,785.60. This represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,179 shares of company stock valued at $6,473,715. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE traded up $2.84 during midday trading on Friday, reaching $161.25. The stock had a trading volume of 2,876,562 shares, compared to its average volume of 2,750,752. The firm has a 50 day simple moving average of $156.49 and a 200-day simple moving average of $150.87. The firm has a market cap of $90.52 billion, a PE ratio of 22.78, a P/E/G ratio of 1.50 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.05.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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 net margin of 30.08% and a return on equity of 14.95%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. The company's revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 8.19 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. Rothschild & Co Redburn increased their price objective on Intercontinental Exchange from $173.00 to $181.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $178.00 price target (up from $169.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Morgan Stanley increased their target price on Intercontinental Exchange from $163.00 to $173.00 and gave the stock an "equal weight" rating in a report on Friday, October 9th. Finally, Raymond James Financial lowered their price target on shares of Intercontinental Exchange from $218.00 to $211.00 and set a "strong-buy" rating for the company in a report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $186.31.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc NYSE: ICE operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.

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