Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 40.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,661 shares of the financial services provider’s stock after selling 137,685 shares during the quarter. Glenmede Trust Co. NA’s holdings in Intercontinental Exchange were worth $32,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth $25,000. Wolff Wiese Magana LLC increased its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Friday, November 1st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $161.14 on Thursday. The stock has a market cap of $92.52 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 12 month low of $111.82 and a 12 month high of $167.99. The stock’s 50 day moving average price is $160.55 and its 200 day moving average price is $151.59.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. This represents a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,696 shares of company stock worth $1,554,559. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company 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.