Price T Rowe Associates Inc. MD Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Price T Rowe Associates Inc. MD lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,405,057 shares of the financial services provider’s stock after selling 34,923 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Intercontinental Exchange were worth $330,528,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ICE. Mutual Advisors LLC grew its position in Intercontinental Exchange by 9.8% during the 4th quarter. Mutual Advisors LLC now owns 2,654 shares of the financial services provider’s stock worth $341,000 after purchasing an additional 236 shares during the last quarter. Ritholtz Wealth Management grew its position in Intercontinental Exchange by 9.2% during the 4th quarter. Ritholtz Wealth Management now owns 5,155 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 433 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Intercontinental Exchange by 10.1% during the 4th quarter. Global Retirement Partners LLC now owns 2,075 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 191 shares during the period. Caprock Group LLC lifted its stake in Intercontinental Exchange by 10.5% during the 4th quarter. Caprock Group LLC now owns 5,942 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 563 shares during the period. Finally, Quent Capital LLC lifted its stake in Intercontinental Exchange by 28.7% during the 4th quarter. Quent Capital LLC now owns 654 shares of the financial services provider’s stock valued at $84,000 after acquiring an additional 146 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE traded up $1.97 on Friday, hitting $151.00. The company had a trading volume of 2,066,933 shares, compared to its average volume of 2,815,487. The company has a market capitalization of $86.61 billion, a PE ratio of 34.63, a PEG ratio of 2.68 and a beta of 1.06. The company’s fifty day moving average price is $139.66 and its 200-day moving average price is $135.62. 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, Inc. has a 12-month low of $104.49 and a 12-month high of $151.72.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Judith A. Sprieser sold 2,267 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the sale, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ICE has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Barclays lifted their price objective on shares of Intercontinental Exchange from $150.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Rosenblatt Securities restated a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Bank of America decreased their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $152.07.

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.