ProShare Advisors LLC Sells 7,611 Shares of Intercontinental Exchange Inc. $ICE

ProShare Advisors LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,926 shares of the financial services provider’s stock after selling 7,611 shares during the period. ProShare Advisors LLC’s holdings in Intercontinental Exchange were worth $23,287,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider’s stock valued at $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Nuveen LLC bought a new stake in Intercontinental Exchange during the 1st quarter valued at approximately $575,383,000. Wellington Management Group LLP grew its holdings in shares of Intercontinental Exchange by 113.9% during the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider’s stock worth $1,025,230,000 after acquiring an additional 3,165,381 shares during the period. C WorldWide Group Holding A S raised its position in shares of Intercontinental Exchange by 29,199.5% in the 2nd quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock worth $303,129,000 after acquiring an additional 1,646,562 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Intercontinental Exchange by 31.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,575,859 shares of the financial services provider’s stock valued at $616,836,000 after purchasing an additional 861,679 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of research reports. TD Cowen decreased their price objective on Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating for the company in a report on Friday, October 31st. Barclays set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, October 31st. Raymond James Financial raised Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 13th. UBS Group reduced their price objective on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $194.70.

Intercontinental Exchange Stock Performance

ICE stock opened at $152.09 on Wednesday. The stock’s 50 day simple moving average is $161.47 and its 200 day simple moving average is $173.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market capitalization of $86.72 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share for the quarter, hitting the consensus estimate of $1.71. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $175.62, for a total transaction of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares in the company, valued at approximately $4,530,293.52. This trade represents a 5.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,587 shares of company stock worth $3,989,936 in the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.