Intrinsic Value Partners LLC Sells 84 Shares of Intercontinental Exchange Inc. $ICE

Intrinsic Value Partners LLC lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,759 shares of the financial services provider’s stock after selling 84 shares during the quarter. Intercontinental Exchange makes up approximately 0.8% of Intrinsic Value Partners LLC’s portfolio, making the stock its 27th largest holding. Intrinsic Value Partners LLC’s holdings in Intercontinental Exchange were worth $873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.4% in the first quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider’s stock valued at $9,132,211,000 after purchasing an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Intercontinental Exchange by 491.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares during the period. Amundi raised its position in shares of Intercontinental Exchange by 14.7% in the first quarter. Amundi now owns 6,315,706 shares of the financial services provider’s stock valued at $1,060,574,000 after purchasing an additional 810,938 shares during the period. Independent Franchise Partners LLP raised its position in shares of Intercontinental Exchange by 0.5% in the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider’s stock valued at $1,068,193,000 after purchasing an additional 31,588 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 113.9% in the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock valued at $1,025,230,000 after purchasing an additional 3,165,381 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, Director Duriya M. Farooqui sold 2,036 shares of Intercontinental Exchange stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the sale, the director owned 14,299 shares in the company, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stuart Glen Williams sold 939 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the sale, the chief operating officer owned 16,624 shares in the company, valued at $2,859,992.96. This represents a 5.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 230,874 shares of company stock valued at $42,187,714. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.9%

Shares of ICE stock opened at $162.47 on Friday. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35. The firm’s fifty day simple moving average is $176.53 and its 200 day simple moving average is $174.67. The firm has a market capitalization of $93.00 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 1.96 and a beta of 1.08. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Barclays lifted their price target on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Morgan Stanley dropped their price target on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.20.

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.