Manning & Napier Advisors LLC Sells 16,123 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Advisors LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.0% in the fourth quarter, HoldingsChannel reports. The firm owned 383,564 shares of the financial services provider’s stock after selling 16,123 shares during the period. Manning & Napier Advisors LLC’s holdings in Intercontinental Exchange were worth $57,155,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its stake in Intercontinental Exchange by 8.8% during the 2nd quarter. Creative Planning now owns 54,262 shares of the financial services provider’s stock worth $7,428,000 after buying an additional 4,393 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Intercontinental Exchange by 9.2% in the second quarter. EP Wealth Advisors LLC now owns 6,665 shares of the financial services provider’s stock worth $912,000 after acquiring an additional 559 shares during the period. Advisory Alpha LLC raised its holdings in shares of Intercontinental Exchange by 35.4% during the second quarter. Advisory Alpha LLC now owns 2,042 shares of the financial services provider’s stock worth $280,000 after purchasing an additional 534 shares during the last quarter. SPC Financial Inc. lifted its position in Intercontinental Exchange by 2.2% during the second quarter. SPC Financial Inc. now owns 26,234 shares of the financial services provider’s stock valued at $3,591,000 after purchasing an additional 572 shares during the period. Finally, Cetera Investment Advisers grew its position in Intercontinental Exchange by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock worth $8,748,000 after purchasing an additional 2,006 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $0.94 during mid-day trading on Wednesday, reaching $157.91. The company had a trading volume of 150,764 shares, compared to its average volume of 3,148,899. The company has a 50-day moving average price of $153.07 and a two-hundred day moving average price of $156.32. The stock has a market cap of $90.67 billion, a PE ratio of 37.46, a P/E/G ratio of 2.95 and a beta of 1.10. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on ICE shares. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Bank of America boosted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Barclays lowered their price target on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 over the last ninety days. 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.