M.D. Sass LLC Sells 3,761 Shares of Intercontinental Exchange Inc. $ICE

M.D. Sass LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,702 shares of the financial services provider’s stock after selling 3,761 shares during the period. Intercontinental Exchange accounts for approximately 4.1% of M.D. Sass LLC’s investment portfolio, making the stock its 13th biggest holding. M.D. Sass LLC owned about 0.06% of Intercontinental Exchange worth $52,265,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ICE. Norges Bank acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $1,418,228,000. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Waverton Investment Management Ltd increased its position in shares of Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after purchasing an additional 1,521,467 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $213,286,000. Finally, Swedbank AB increased its position in shares of Intercontinental Exchange by 43.3% during the fourth quarter. Swedbank AB now owns 3,527,115 shares of the financial services provider’s stock worth $571,252,000 after purchasing an additional 1,064,967 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, Director Sharon Bowen sold 667 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $151.28, for a total value of $100,903.76. Following the transaction, the director directly owned 15,077 shares of the company’s stock, valued at $2,280,848.56. This represents a 4.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $155.42, for a total value of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,001 shares of company stock valued at $1,847,820 in the last quarter. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $142.53 on Wednesday. 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 stock’s fifty day moving average price is $157.12 and its 200 day moving average price is $160.10. Intercontinental Exchange Inc. has a 1 year low of $136.67 and a 1 year high of $189.35. The company has a market cap of $80.60 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.39 and a beta of 0.92.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm earned $1.72 EPS. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group reaffirmed a “buy” rating and set a $205.00 price target on shares of Intercontinental Exchange in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They set an “outperform” rating and a $190.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. One equities research 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 company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Buy” and an average price target of $194.60.

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.