Point72 Europe London LLP Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Point72 Europe London LLP trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,392 shares of the financial services provider’s stock after selling 5,108 shares during the quarter. Point72 Europe London LLP’s holdings in Intercontinental Exchange were worth $7,856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Vanguard Group Inc. boosted its stake in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Capital World Investors increased its holdings in Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Intercontinental Exchange by 303.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after buying an additional 1,790,493 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after buying an additional 1,621,737 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.8 %

Intercontinental Exchange stock opened at $158.75 on Wednesday. The business’s 50-day simple moving average is $156.26 and its two-hundred day simple moving average is $143.09. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $91.14 billion, a PE ratio of 36.41, a PEG ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. Insiders have sold 66,268 shares of company stock valued at $9,508,809 in the last ninety days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ICE shares. Citigroup boosted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. Barclays boosted their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $158.08.

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.