Lazard Freres Gestion S.A.S. Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Lazard Freres Gestion S.A.S. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 462,191 shares of the financial services provider’s stock after selling 32,403 shares during the period. Intercontinental Exchange comprises approximately 1.6% of Lazard Freres Gestion S.A.S.’s holdings, making the stock its 21st biggest holding. Lazard Freres Gestion S.A.S.’s holdings in Intercontinental Exchange were worth $74,246,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC lifted its position in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $124,508,000. Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 589.4% in the first quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after acquiring an additional 687,817 shares during the last quarter. James Hambro & Partners purchased a new stake in Intercontinental Exchange in the second quarter valued at approximately $93,340,000. Finally, Assenagon Asset Management S.A. increased its position in Intercontinental Exchange by 426.3% during the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after purchasing an additional 584,400 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.3 %

Shares of ICE stock traded down $0.47 during mid-day trading on Tuesday, reaching $159.16. 73,175 shares of the company were exchanged, compared to its average volume of 2,562,637. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day simple moving average is $160.59 and its 200 day simple moving average is $151.34. The company has a market capitalization of $91.39 billion, a P/E ratio of 37.82, a P/E/G ratio of 2.63 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $111.82 and a fifty-two week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. Research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was 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 of the company’s stock, valued at approximately $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,868 shares of company stock worth $622,079 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ICE shares. The Goldman Sachs Group lifted their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley upped their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Bank of America raised their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

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.