Nixon Peabody Trust Co. Has $18.25 Million Position in Intercontinental Exchange Inc. $ICE

Nixon Peabody Trust Co. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 99,471 shares of the financial services provider’s stock after selling 1,327 shares during the quarter. Intercontinental Exchange comprises 1.4% of Nixon Peabody Trust Co.’s holdings, making the stock its 19th biggest position. Nixon Peabody Trust Co.’s holdings in Intercontinental Exchange were worth $18,250,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ICE. Clearstead Trust LLC acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $67,000. Fiera Capital Corp boosted its position in shares of Intercontinental Exchange by 16.5% during the second quarter. Fiera Capital Corp now owns 51,064 shares of the financial services provider’s stock worth $9,369,000 after buying an additional 7,232 shares during the period. Avalon Trust Co raised its position in Intercontinental Exchange by 1,524.4% in the 2nd quarter. Avalon Trust Co now owns 1,332 shares of the financial services provider’s stock valued at $244,000 after buying an additional 1,250 shares during the last quarter. D Orazio & Associates Inc. bought a new stake in Intercontinental Exchange in the 2nd quarter valued at approximately $200,000. Finally, ABN Amro Investment Solutions acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $90,410,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $152.61 on Friday. The company has a market cap of $87.01 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The firm has a 50-day moving average of $160.62 and a 200-day moving average of $172.75. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm earned $1.55 EPS. Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ICE shares. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. TD Cowen decreased their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 31st. UBS Group cut their price target on shares of Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Raymond James Financial upgraded shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price objective for the company in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average target price of $194.70.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 10,082 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total transaction of $1,601,828.16. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares in the company, valued at approximately $10,365,331.20. The trade was a 13.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Stuart Glen Williams sold 939 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $172.04, for a total value of $161,545.56. Following the completion of the sale, the chief operating officer owned 16,624 shares in the company, valued at approximately $2,859,992.96. This trade represents a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 25,668 shares of company stock valued at $4,304,167. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.