Campbell Newman Asset Management Inc. Sells 212,284 Shares of Intercontinental Exchange Inc. $ICE

Campbell Newman Asset Management Inc. lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 97.5% in the second quarter, HoldingsChannel reports. The firm owned 5,346 shares of the financial services provider’s stock after selling 212,284 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Intercontinental Exchange were worth $658,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ICE. J. Stern & Co. LLP grew its stake in Intercontinental Exchange by 17,398.1% during the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock worth $8,763,214,000 after buying an additional 53,798,055 shares during the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,418,228,000. Viking Global Investors LP bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $777,926,000. Boston Partners boosted its holdings in shares of Intercontinental Exchange by 148.6% in the 4th quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock worth $519,701,000 after acquiring an additional 1,914,851 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Intercontinental Exchange by 569.8% in the 4th quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock worth $358,142,000 after acquiring an additional 1,880,835 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other news, SVP Douglas Foley sold 7,300 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $148.88, for a total transaction of $1,086,824.00. Following the completion of the sale, the senior vice president owned 19,063 shares in the company, valued at $2,838,099.44. The trade was a 27.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $139.46, for a total value of $185,900.18. Following the completion of the transaction, the director owned 20,132 shares in the company, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,454 shares of company stock valued at $2,469,349 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $155.34 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $140.32 and a 200 day simple moving average of $152.25. Intercontinental Exchange Inc. has a fifty-two week low of $121.79 and a fifty-two week high of $183.13. The firm has a market cap of $87.21 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.49 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. Sell-side analysts predict that Intercontinental Exchange Inc. will post 8.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ICE shares. Rothschild & Co Redburn set a $177.00 price target on Intercontinental Exchange in a research report on Thursday, June 11th. Weiss Ratings lowered Intercontinental Exchange from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Raymond James Financial set a $208.00 target price on Intercontinental Exchange in a report on Monday, July 6th. Barclays restated an “overweight” rating and issued a $182.00 target price (up from $180.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $178.00 price target on shares of Intercontinental Exchange in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.