Gateway Investment Advisers LLC Trims Stake in Intercontinental Exchange Inc. $ICE

Gateway Investment Advisers LLC cut its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,185 shares of the financial services provider’s stock after selling 4,228 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Intercontinental Exchange were worth $27,723,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ICONIQ Capital LLC grew its stake in shares of Intercontinental Exchange by 2.2% during the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after purchasing an additional 56 shares during the period. Mission Wealth Management LP lifted its stake in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 1.5% in the 4th quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares during the period. Sather Financial Group Inc boosted its holdings in Intercontinental Exchange by 4.7% during the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock worth $233,000 after buying an additional 64 shares in the last quarter. Finally, Johnson Financial Group LLC boosted its holdings in Intercontinental Exchange by 4.0% during the fourth quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock worth $277,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $151.33 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a fifty day moving average of $140.05 and a 200 day moving average of $152.37. The firm has a market cap of $84.96 billion, a PE ratio of 21.37, a PEG ratio of 1.49 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $183.65.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.06. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. During the same period last year, the firm posted $1.81 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 8.08 EPS for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,573 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total transaction of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This represents a 9.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total transaction of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 16,454 shares of company stock valued at $2,469,349. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ICE. Wall Street Zen cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial set a $208.00 target price on shares of Intercontinental Exchange in a research note on Monday, July 6th. Morgan Stanley dropped their target price on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, July 10th. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group reduced their price target on Intercontinental Exchange from $208.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $183.33.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.