Raiffeisen Bank International AG Sells 24,196 Shares of Intercontinental Exchange Inc. $ICE

Raiffeisen Bank International AG trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 80.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,890 shares of the financial services provider’s stock after selling 24,196 shares during the period. Raiffeisen Bank International AG’s holdings in Intercontinental Exchange were worth $1,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after buying an additional 1,169 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Intercontinental Exchange during the first quarter valued at $455,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Intercontinental Exchange by 3.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 44,334 shares of the financial services provider’s stock valued at $7,648,000 after acquiring an additional 1,678 shares during the period. Crestwood Advisors Group LLC boosted its position in Intercontinental Exchange by 8.1% in the first quarter. Crestwood Advisors Group LLC now owns 12,409 shares of the financial services provider’s stock worth $2,141,000 after purchasing an additional 926 shares during the last quarter. Finally, United Bank grew its stake in shares of Intercontinental Exchange by 1.5% during the 1st quarter. United Bank now owns 12,842 shares of the financial services provider’s stock valued at $2,215,000 after purchasing an additional 196 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $152.82 on Wednesday. The stock has a market cap of $87.13 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm has a fifty day moving average price of $159.29 and a 200-day moving average price of $172.45. 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 for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. Intercontinental Exchange’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ICE shares. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday. JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. TD Cowen reduced their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Barclays set a $183.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $194.70.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $175.62, for a total transaction of $280,992.00. Following the completion of the transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the transaction, the director owned 18,169 shares of the company’s stock, valued at $3,170,672.19. This represents a 13.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,098 shares of company stock worth $4,024,000. Insiders own 1.00% of the company’s stock.

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.