Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,053 shares of the financial services provider’s stock after selling 65,204 shares during the period. Intercontinental Exchange makes up 0.9% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 26th biggest position. Kovitz Investment Group Partners LLC owned approximately 0.15% of Intercontinental Exchange worth $137,326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $54,662,000. Two Sigma Advisers LP grew its stake in shares of Intercontinental Exchange by 285.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares during the period. Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $203,000. Stansberry Asset Management LLC lifted its stake in shares of Intercontinental Exchange by 0.7% in the 3rd quarter. Stansberry Asset Management LLC now owns 72,497 shares of the financial services provider’s stock valued at $11,646,000 after purchasing an additional 493 shares during the period. Finally, State Street Corp boosted its holdings in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after buying an additional 281,503 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares in the company, valued at approximately $2,284,875.54. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock valued at $1,554,559 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays dropped their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Finally, Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE ICE opened at $156.37 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99. The stock has a market cap of $89.78 billion, a PE ratio of 37.05, a P/E/G ratio of 2.58 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average of $160.43 and a 200 day moving average of $152.40.

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

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.