First Mercantile Trust Co. reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 28.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,214 shares of the financial services provider’s stock after selling 12,536 shares during the period. First Mercantile Trust Co.’s holdings in Intercontinental Exchange were worth $2,058,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Motco raised its stake in Intercontinental Exchange by 32,238.2% in the first quarter. Motco now owns 88,930 shares of the financial services provider’s stock valued at $5,324,000 after buying an additional 88,655 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Intercontinental Exchange by 27.4% in the first quarter. State of Alaska Department of Revenue now owns 73,910 shares of the financial services provider’s stock valued at $4,424,000 after buying an additional 15,875 shares in the last quarter. Boys Arnold & Co. Inc. raised its stake in Intercontinental Exchange by 4.7% in the first quarter. Boys Arnold & Co. Inc. now owns 19,945 shares of the financial services provider’s stock valued at $1,194,000 after buying an additional 900 shares in the last quarter. Capital Impact Advisors LLC raised its stake in Intercontinental Exchange by 16.8% in the first quarter. Capital Impact Advisors LLC now owns 33,839 shares of the financial services provider’s stock valued at $2,026,000 after buying an additional 4,864 shares in the last quarter. Finally, Bank of The West raised its stake in Intercontinental Exchange by 2.1% in the first quarter. Bank of The West now owns 35,635 shares of the financial services provider’s stock valued at $2,133,000 after buying an additional 747 shares in the last quarter. Institutional investors and hedge funds own 89.50% of the company’s stock.

Intercontinental Exchange Inc. (NYSE ICE) opened at 65.16 on Friday. Intercontinental Exchange Inc. has a 1-year low of $52.27 and a 1-year high of $67.48. The stock has a market cap of $7.50 billion, a P/E ratio of 24.14 and a beta of 0.71. The firm’s 50-day moving average is $65.78 and its 200-day moving average is $61.42.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.75. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Intercontinental Exchange had a net margin of 27.56% and a return on equity of 10.80%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. On average, analysts forecast that Intercontinental Exchange Inc. will post $2.95 EPS for the current year.

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Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada raised shares of Intercontinental Exchange from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $70.00 in a research note on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price objective (up previously from $70.00) on shares of Intercontinental Exchange in a research note on Monday, July 17th. Citigroup Inc. initiated coverage on shares of Intercontinental Exchange in a research note on Wednesday, July 12th. They set a “neutral” rating and a $67.00 price objective on the stock. Finally, BidaskClub downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $67.49.

In other Intercontinental Exchange news, insider Charles A. Vice sold 15,000 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $66.33, for a total value of $994,950.00. Following the completion of the sale, the insider now directly owns 384,971 shares in the company, valued at $25,535,126.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles A. Vice sold 12,500 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.93, for a total transaction of $836,625.00. Following the completion of the sale, the insider now owns 382,471 shares of the company’s stock, valued at $25,598,784.03. The disclosure for this sale can be found here. Insiders sold 166,389 shares of company stock valued at $10,279,500 over the last quarter. Corporate 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.

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

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