Westwood Holdings Group Inc. cut its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 6.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,334,065 shares of the financial services provider’s stock after selling 86,574 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Intercontinental Exchange were worth $96,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. BlackRock Inc. grew its stake in shares of Intercontinental Exchange by 6.0% during the 4th quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock valued at $2,629,892,000 after buying an additional 2,104,818 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Intercontinental Exchange by 30.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,169,009 shares of the financial services provider’s stock valued at $223,605,000 after buying an additional 747,757 shares during the period. CI Global Investments Inc. purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at $47,938,000. Millennium Management LLC grew its stake in shares of Intercontinental Exchange by 54.7% during the 4th quarter. Millennium Management LLC now owns 1,613,351 shares of the financial services provider’s stock valued at $113,838,000 after buying an additional 570,492 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Intercontinental Exchange by 10.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock valued at $398,504,000 after buying an additional 557,332 shares during the period. 89.00% of the stock is owned by institutional investors.

Shares of Intercontinental Exchange opened at $75.98 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $42.74 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 2.01 and a beta of 0.62. Intercontinental Exchange Inc has a twelve month low of $61.54 and a twelve month high of $76.30.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Intercontinental Exchange had a net margin of 41.65% and a return on equity of 11.14%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. sell-side analysts expect that Intercontinental Exchange Inc will post 3.52 earnings per share for the current year.

Several brokerages have recently issued reports on ICE. Zacks Investment Research cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Sanford C. Bernstein initiated coverage on shares of Intercontinental Exchange in a research report on Monday, April 9th. They set an “outperform” rating and a $85.00 price target for the company. Deutsche Bank upped their price target on shares of Intercontinental Exchange from $80.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. JPMorgan Chase & Co. set a $83.00 price target on shares of Intercontinental Exchange and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Finally, Argus reaffirmed a “buy” rating and set a $67.00 price target (down from $80.00) on shares of Intercontinental Exchange in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $78.36.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 35,000 shares of the company’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $70.56, for a total value of $2,469,600.00. Following the completion of the transaction, the insider now directly owns 417,507 shares of the company’s stock, valued at approximately $29,459,293.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Charles A. Vice sold 50,000 shares of the company’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $71.97, for a total transaction of $3,598,500.00. Following the completion of the transaction, the insider now directly owns 432,507 shares of the company’s stock, valued at $31,127,528.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,059 shares of company stock valued at $17,756,004. 1.50% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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

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