Intercontinental Exchange Inc. $ICE Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 18.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 19,033 shares of the financial services provider’s stock after selling 4,231 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Intercontinental Exchange were worth $2,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Intercontinental Exchange during the second quarter worth approximately $26,000. Gables Capital Management Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth approximately $31,000. James T. Borello RIA grew its position in shares of Intercontinental Exchange by 143.0% in the third quarter. James T. Borello RIA now owns 209 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 123 shares during the last quarter. Fiduciary Financial Advisors acquired a new position in shares of Intercontinental Exchange in the second quarter valued at approximately $33,000. Finally, Clearstead Trust LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth approximately $37,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $151.20, for a total transaction of $645,775.20. Following the completion of the sale, the chief technology officer owned 67,988 shares of the company’s stock, valued at $10,279,785.60. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 4,574 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $161.77, for a total transaction of $739,935.98. Following the sale, the general counsel owned 43,065 shares in the company, valued at $6,966,625.05. The trade was a 9.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,179 shares of company stock valued at $6,473,715 in the last ninety days. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $1.56 during trading hours on Tuesday, reaching $156.84. 1,549,146 shares of the company were exchanged, compared to its average volume of 3,772,537. The company has a market capitalization of $88.05 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.48 and a beta of 0.94. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $176.05. 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 business has a 50 day moving average of $156.65 and a 200 day moving average of $150.83.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 EPS. Research analysts forecast that Intercontinental Exchange Inc. will post 8.19 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Barclays restated an “overweight” rating and issued a $189.00 price target (up from $182.00) on shares of Intercontinental Exchange in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 7th. Bank of America increased their price objective on Intercontinental Exchange from $232.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $178.00 target price (up from $169.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.31.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc (NYSE:ICE) is a global operator of exchanges, clearinghouses, data services and technology platforms. The company owns and operates the New York Stock Exchange and other exchanges serving equity, options, futures and over-the-counter markets. Its marketplaces support trading in areas including energy, agricultural commodities, interest rates, currencies, equity indexes and individual stocks.

ICE also provides clearing and settlement services that help manage counterparty and transaction risk, along with market data, analytics, connectivity and other technology solutions for financial institutions and businesses.