Rockefeller Capital Management L.P. Sells 61,646 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Rockefeller Capital Management reduced its Intercontinental Exchange stake by 11.4% in the fourth quarter, selling 61,646 shares and leaving it with 478,482 shares valued at about $77.5 million.
• Intercontinental Exchange reported stronger-than-expected quarterly results, with EPS of $2.35 topping estimates and revenue rising 20.4% year over year to $3.67 billion.
• Despite recent stock weakness, Wall Street remains broadly positive on ICE, with a Moderate Buy consensus and an average price target of $193, while several analysts have raised targets into the $190-$205 range.

Rockefeller Capital Management L.P. cut its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478,482 shares of the financial services provider's stock after selling 61,646 shares during the quarter. Rockefeller Capital Management L.P. owned 0.08% of Intercontinental Exchange worth $77,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. Brighton Jones LLC lifted its stake in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after purchasing an additional 1,189 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock worth $381,000 after buying an additional 289 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Intercontinental Exchange by 27.9% during the 2nd quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock worth $3,892,000 after buying an additional 4,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Intercontinental Exchange by 2.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock worth $48,894,000 after buying an additional 6,373 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.1%

NYSE:ICE opened at $133.76 on Friday. The firm's 50 day simple moving average is $151.34 and its 200 day simple moving average is $158.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a one year low of $132.84 and a one year high of $189.35. The company has a market cap of $75.64 billion, a PE ratio of 19.47, a P/E/G ratio of 1.28 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.72 EPS. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ICE shares. Rothschild & Co Redburn set a $177.00 price objective on Intercontinental Exchange in a research note on Thursday, June 11th. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. Barclays reiterated an "overweight" rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research report on Friday, May 1st. Finally, UBS Group reissued a "buy" rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $193.00.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was 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 of the company's stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,425 shares of company stock valued at $2,046,324 over the last quarter. 0.84% of the stock is currently owned by company 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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