Toronto Dominion Bank Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Toronto Dominion Bank lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 305,587 shares of the financial services provider’s stock after selling 43,065 shares during the quarter. Toronto Dominion Bank owned 0.05% of Intercontinental Exchange worth $41,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC lifted its holdings in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the second quarter worth about $25,000. Finally, Fairscale Capital LLC purchased a new position in Intercontinental Exchange in the second quarter valued at about $25,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.08.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $159.45 on Thursday. The stock has a market capitalization of $91.55 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.81 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm’s 50-day moving average is $156.26 and its two-hundred day moving average is $143.09.

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

Insider Activity

In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Mayur Kapani sold 395 shares of the company’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 completion of the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The disclosure for this sale can be found here. Insiders sold a total of 66,268 shares of company stock valued at $9,508,809 over the last quarter. Company insiders own 1.10% 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.