Nuveen Asset Management LLC Sells 258,424 Shares of Intercontinental Exchange Inc. (ICE)

Nuveen Asset Management LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 86.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,235 shares of the financial services provider’s stock after selling 258,424 shares during the period. Nuveen Asset Management LLC’s holdings in Intercontinental Exchange were worth $2,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Intercontinental Exchange by 3.8% in the first quarter. Vanguard Group Inc. now owns 39,318,668 shares of the financial services provider’s stock worth $2,354,009,000 after buying an additional 1,425,397 shares during the period. BlackRock Inc. increased its position in Intercontinental Exchange by 2,943.4% in the first quarter. BlackRock Inc. now owns 35,050,179 shares of the financial services provider’s stock worth $2,098,452,000 after buying an additional 33,898,484 shares during the last quarter. Wellington Management Group LLP increased its position in Intercontinental Exchange by 2.8% in the first quarter. Wellington Management Group LLP now owns 26,817,902 shares of the financial services provider’s stock worth $1,605,588,000 after buying an additional 721,080 shares during the last quarter. State Street Corp increased its position in Intercontinental Exchange by 1.9% in the first quarter. State Street Corp now owns 25,648,056 shares of the financial services provider’s stock worth $1,535,555,000 after buying an additional 481,909 shares during the last quarter. Finally, FMR LLC increased its position in Intercontinental Exchange by 19.3% in the first quarter. FMR LLC now owns 8,929,000 shares of the financial services provider’s stock worth $534,580,000 after buying an additional 1,443,992 shares during the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.

Shares of Intercontinental Exchange Inc. (ICE) traded up 0.28% during trading on Tuesday, hitting $64.55. 2,301,976 shares of the stock traded hands. The company has a market cap of $7.43 billion, a PE ratio of 24.92 and a beta of 0.71. The company has a 50 day moving average of $65.74 and a 200-day moving average of $61.19. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.75. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post $2.95 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on ICE shares. Jefferies Group LLC restated a “buy” rating and issued a $70.00 price target on shares of Intercontinental Exchange in a research report on Monday, April 10th. Royal Bank Of Canada set a $61.00 price target on shares of Intercontinental Exchange and gave the stock a “hold” rating in a research report on Thursday, April 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $65.50 price objective on shares of Intercontinental Exchange in a report on Wednesday, April 12th. BidaskClub raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Citigroup Inc. assumed coverage on shares of Intercontinental Exchange in a report on Wednesday, July 12th. They issued a “neutral” rating and a $67.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $67.49.

In other news, CEO Jeffrey C. Sprecher sold 73,374 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $59.91, for a total value of $4,395,836.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Jefferson Hague sold 1,150 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $59.94, for a total value of $68,931.00. The disclosure for this sale can be found here. Insiders have sold a total of 166,389 shares of company stock valued at $10,279,500 over the last three months. Company insiders own 1.50% of the company’s stock.

Intercontinental Exchange Company Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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