Ninety One UK Ltd Sells 65,383 Shares of Intercontinental Exchange Inc. $ICE

Ninety One UK Ltd decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the third quarter, Holdings Channel.com reports. The firm owned 1,434,419 shares of the financial services provider’s stock after selling 65,383 shares during the period. Ninety One UK Ltd’s holdings in Intercontinental Exchange were worth $218,075,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in Intercontinental Exchange in the second quarter worth approximately $26,000. Gables Capital Management Inc. bought a new stake in Intercontinental Exchange in the second quarter worth approximately $31,000. Fiduciary Financial Advisors bought a new stake in Intercontinental Exchange in the second quarter worth approximately $33,000. Clearstead Trust LLC bought a new stake in Intercontinental Exchange in the second quarter worth approximately $37,000. Finally, Atlatl Advisers LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the completion of the sale, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. This represents a 9.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 12,862 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $160.09, for a total value of $2,059,077.58. Following the completion of the sale, the president directly owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,179 shares of company stock worth $6,473,715 in the last ninety days. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ICE shares. Bank of America raised their price target on shares of Intercontinental Exchange from $232.00 to $236.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Raymond James Financial reduced their price objective on shares of Intercontinental Exchange from $218.00 to $211.00 and set a “strong-buy” rating for the company in a research note on Monday, October 5th. Weiss Ratings upgraded shares of Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Finally, The Goldman Sachs Group raised their target price on Intercontinental Exchange from $192.00 to $195.00 and gave the company a “buy” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $186.31.

Intercontinental Exchange Stock Performance

ICE stock traded up $2.29 during midday trading on Thursday, hitting $157.40. 1,837,456 shares of the company traded hands, compared to its average volume of 3,780,365. Intercontinental Exchange Inc. has a twelve month low of $121.79 and a twelve month high of $176.05. The stock has a market capitalization of $88.36 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.48 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. The business has a 50 day simple moving average of $156.10 and a 200-day simple moving average of $150.75.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.06. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. Intercontinental Exchange’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange Inc. will post 8.19 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces and infrastructure that support the trading, clearing and management of risk across financial and commodity markets.

Its businesses include the New York Stock Exchange, ICE Futures exchanges and ICE Clear clearinghouses. ICE offers trading and clearing services for equities, equity options, interest rates, currencies, energy, agricultural commodities, metals and other contracts.