Shell Asset Management Co. Sells 8,463 Shares of Intercontinental Exchange Inc (NYSE:ICE)

Shell Asset Management Co. reduced its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 9.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,375 shares of the financial services provider’s stock after selling 8,463 shares during the period. Shell Asset Management Co.’s holdings in Intercontinental Exchange were worth $6,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. CI Investments Inc. grew its position in Intercontinental Exchange by 9.8% during the fourth quarter. CI Investments Inc. now owns 4,155 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 371 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Intercontinental Exchange by 2.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 132,242 shares of the financial services provider’s stock worth $12,239,000 after purchasing an additional 3,159 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 2.5% in the fourth quarter. AQR Capital Management LLC now owns 709,230 shares of the financial services provider’s stock worth $65,639,000 after purchasing an additional 17,439 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co grew its holdings in shares of Intercontinental Exchange by 15.6% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 500 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in shares of Intercontinental Exchange by 4.4% in the first quarter. Financial Counselors Inc. now owns 30,621 shares of the financial services provider’s stock worth $2,473,000 after purchasing an additional 1,279 shares during the last quarter. Institutional investors and hedge funds own 90.40% of the company’s stock.

Intercontinental Exchange stock traded up $0.91 on Friday, hitting $93.77. 1,747,467 shares of the stock traded hands, compared to its average volume of 2,658,635. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.33. The firm has a market cap of $50.82 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.54 and a beta of 0.54. The business’s fifty day simple moving average is $89.14 and its 200 day simple moving average is $91.10. Intercontinental Exchange Inc has a 1 year low of $63.51 and a 1 year high of $101.93.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. Intercontinental Exchange had a return on equity of 13.85% and a net margin of 29.65%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, analysts predict that Intercontinental Exchange Inc will post 4.49 earnings per share for the current year.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a report on Thursday, March 5th. Oppenheimer cut their target price on shares of Intercontinental Exchange from $106.00 to $103.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Wells Fargo & Co raised their target price on shares of Intercontinental Exchange from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Berenberg Bank upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and raised their target price for the stock from $101.00 to $106.00 in a report on Monday, April 20th. Finally, Barclays raised their target price on shares of Intercontinental Exchange from $95.00 to $100.00 in a report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Intercontinental Exchange has an average rating of “Buy” and an average target price of $102.21.

In other news, CEO Jeffrey C. Sprecher sold 175,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $87.22, for a total value of $15,263,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 3,991 shares of Intercontinental Exchange stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $91.26, for a total value of $364,218.66. The disclosure for this sale can be found here. Insiders have sold 216,223 shares of company stock valued at $19,123,431 in the last three months. Insiders own 1.50% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Singapore, Israel, and Canada. It operates in two segments, Trading and Clearing; and Data and Listings.

Further Reading: Beta

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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