Intercontinental Exchange Inc. $ICE Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,042 shares of the financial services provider’s stock after selling 10,024 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Intercontinental Exchange were worth $30,992,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ICE. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter worth $28,000. Westside Investment Management Inc. purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $29,000. Private Wealth Management Group LLC boosted its stake in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares during the period. Hilltop National Bank purchased a new position in shares of Intercontinental Exchange during the second quarter worth about $31,000. Finally, Knuff & Co LLC increased its position in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 74 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 5,345 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total value of $837,401.15. Following the completion of the transaction, the chief technology officer directly owned 65,240 shares of the company’s stock, valued at $10,221,150.80. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the sale, the chief executive officer owned 1,801,705 shares in the company, valued at approximately $275,805,001.40. The trade was a 7.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 166,068 shares of company stock valued at $25,470,702 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 0.8%

NYSE:ICE opened at $172.94 on Friday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $161.89 and a two-hundred day moving average price of $167.14. The stock has a market capitalization of $98.61 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 2.10 and a beta of 1.03.

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 analysts’ consensus estimates of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICE. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. UBS Group reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Wednesday, January 7th. Morgan Stanley set a $180.00 price objective on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Buy” and a consensus target price of $193.50.

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.