Intercontinental Exchange, Inc. (NYSE:ICE) Position Trimmed by Thompson Investment Management Inc.

Thompson Investment Management Inc. cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,795 shares of the financial services provider’s stock after selling 1,466 shares during the quarter. Thompson Investment Management Inc.’s holdings in Intercontinental Exchange were worth $5,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Altshuler Shaham Ltd bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $29,000. Finally, Sachetta LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.2 %

Shares of Intercontinental Exchange stock traded down $0.34 during trading on Wednesday, reaching $136.99. 1,014,553 shares of the company traded hands, compared to its average volume of 2,325,243. The firm has a market capitalization of $78.58 billion, a PE ratio of 31.40, a P/E/G ratio of 2.56 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.43. The company has a 50 day moving average price of $134.14 and a 200-day moving average price of $132.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ICE. Barclays dropped their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Argus reaffirmed a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Citigroup upped their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $148.29.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was bought at an average price of $0.87 per share, with a total value of $305,265.60. Following the purchase, the insider now owns 649,934 shares of the company’s stock, valued at $565,442.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of Intercontinental Exchange stock in a transaction on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at $565,442.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,234 shares of company stock worth $8,668,823. Corporate 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.