LGT Capital Partners LTD. Sells 44,535 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Capital Partners LTD. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 34.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,551 shares of the financial services provider’s stock after selling 44,535 shares during the period. LGT Capital Partners LTD.’s holdings in Intercontinental Exchange were worth $13,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Legal & General Group Plc increased its holdings in Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares during the period. Clearbridge Investments LLC increased its holdings in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after purchasing an additional 284,664 shares during the period. Raymond James & Associates increased its holdings in Intercontinental Exchange by 11.1% in the third quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock valued at $407,348,000 after purchasing an additional 253,324 shares during the period. AGF Management Ltd. increased its holdings in Intercontinental Exchange by 11.0% in the second quarter. AGF Management Ltd. now owns 2,208,036 shares of the financial services provider’s stock valued at $302,258,000 after purchasing an additional 218,516 shares during the period. Finally, Marshall Wace LLP increased its holdings in Intercontinental Exchange by 14.8% in the second quarter. Marshall Wace LLP now owns 2,117,501 shares of the financial services provider’s stock valued at $289,865,000 after purchasing an additional 273,003 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Piper Sandler increased their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Up 1.4 %

Intercontinental Exchange stock opened at $157.69 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99. The firm has a market capitalization of $90.54 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 2.57 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $160.89 and a 200 day simple moving average of $150.44.

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

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,489 shares of company stock worth $1,202,259. 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.