Bank of Montreal Can Trims Stock Position in Intercontinental Exchange Inc. $ICE

Bank of Montreal Can lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 874,683 shares of the financial services provider’s stock after selling 5,092 shares during the period. Bank of Montreal Can owned about 0.15% of Intercontinental Exchange worth $160,478,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Princeton Global Asset Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $28,000. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% during the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock valued at $29,000 after buying an additional 162 shares during the last quarter. Hilltop National Bank purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at about $31,000. McClarren Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $30,000. Finally, Accredited Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ICE. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday. Barclays set a $183.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods upgraded Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. UBS Group cut their price target on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.82.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the transaction, the director directly owned 18,169 shares in the company, valued at $3,170,672.19. The trade was a 13.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total value of $686,570.50. Following the transaction, the general counsel owned 46,293 shares in the company, valued at approximately $8,255,430.69. This represents a 7.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 240,162 shares of company stock worth $43,642,652. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Down 0.5%

ICE stock opened at $145.55 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market cap of $83.32 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.11 and a beta of 1.08. The business’s 50-day moving average is $164.87 and its 200 day moving average is $173.52.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $1.55 EPS. Intercontinental Exchange’s revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.