Morningstar Investment Management LLC Has $1.75 Million Position in Intercontinental Exchange Inc. $ICE

Morningstar Investment Management LLC reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,530 shares of the financial services provider’s stock after selling 998 shares during the period. Morningstar Investment Management LLC’s holdings in Intercontinental Exchange were worth $1,748,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ICE. Price T Rowe Associates Inc. MD raised its stake in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Nuveen LLC acquired a new stake in Intercontinental Exchange during the 1st quarter valued at $575,383,000. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the period. Bank of New York Mellon Corp raised its stake in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Intercontinental Exchange by 31.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after purchasing an additional 861,679 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $178.33, for a total transaction of $686,570.50. Following the transaction, the general counsel directly owned 46,293 shares in the company, valued at $8,255,430.69. This trade represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total value of $27,463,500.00. Following the transaction, the chief executive officer owned 1,951,705 shares in the company, valued at approximately $357,337,668.45. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 240,956 shares of company stock valued at $43,789,542. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $158.85 on Tuesday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35. The stock’s 50-day moving average is $173.41 and its two-hundred day moving average is $173.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $90.93 billion, a P/E ratio of 30.49, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.52 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research note on Thursday, September 25th. Keefe, Bruyette & Woods raised shares of Intercontinental Exchange to a “moderate buy” rating in a research note on Monday, October 6th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research note on Monday. Barclays reaffirmed an “overweight” rating and issued a $201.00 price target (down from $212.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.60.

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.