Intercontinental Exchange Inc. $ICE Stock Sold by R Squared Ltd

R Squared Ltd lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 61.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,437 shares of the financial services provider’s stock after selling 8,552 shares during the quarter. R Squared Ltd’s holdings in Intercontinental Exchange were worth $827,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ICE. BlackRock Inc. acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $6,245,085,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at approximately $714,869,000. Flossbach Von Storch SE acquired a new position in Intercontinental Exchange in the second quarter worth approximately $649,900,000. Bank of America Corp DE acquired a new position in Intercontinental Exchange in the second quarter worth approximately $521,557,000. Finally, Jupiter Topco LLC acquired a new position in Intercontinental Exchange in the second quarter worth approximately $474,012,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Key Intercontinental Exchange News

These are some of the ICE news items that stood out recently:

• Positive Sentiment: ICE plans to introduce wind futures covering seven European countries, expanding its derivatives offerings and potentially creating additional trading activity. Article: ICE Plans to Launch Wind Futures
• Positive Sentiment: Analysts’ consensus price target is $189.25, above the quoted share price of $177.80, indicating potential upside in their forecasts. Article: ICE Stock Has Consensus Price Target of $189.25
• Negative Sentiment: Two insiders reported stock sales: General Counsel Andrew Surdykowski sold 4,575 shares for about $801,000, reducing his holdings by 10.14%; Director Sharon Bowen sold 2,100 shares for about $366,000, reducing hers by 13.93%. The sales could create a modest negative sentiment signal, although both retained shares. SEC filing: Andrew Surdykowski transaction SEC filing: Sharon Bowen transaction

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 12,862 shares of Intercontinental Exchange stock in a transaction 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 transaction, the president owned 164,264 shares in the company, valued at $26,297,023.76. This trade represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James Namkung sold 3,777 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $175.00, for a total transaction of $660,975.00. Following the transaction, the chief accounting officer directly owned 10,325 shares of the company’s stock, valued at approximately $1,806,875. This represents a 26.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 52,000 shares of company stock worth $8,638,669 in the last ninety days. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ICE. UBS Group reiterated a “buy” rating and issued a $195.00 target price (up from $190.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. The Goldman Sachs Group increased their price target on shares of Intercontinental Exchange from $192.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Rothschild & Co Redburn raised their price target on shares of Intercontinental Exchange from $173.00 to $181.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Argus decreased their price objective on shares of Intercontinental Exchange from $190.00 to $187.00 and set a “buy” rating for the company in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Intercontinental Exchange Stock Down 1.5%

Shares of Intercontinental Exchange stock opened at $177.80 on Friday. The stock has a market capitalization of $99.36 billion, a P/E ratio of 24.26, a PEG ratio of 1.59 and a beta of 0.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $160.03 and a two-hundred day moving average price of $154.71. Intercontinental Exchange Inc. has a 12-month low of $121.79 and a 12-month high of $181.38.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.05. Intercontinental Exchange had a net margin of 29.62% and a return on equity of 15.32%. The company had revenue of $3.63 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange Inc. will post 8.21 earnings per share for the current year.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc. (NYSE: ICE) operates exchanges, clearing houses and technology businesses serving financial and commodity markets. Its platforms support the trading and clearing of futures, options and other products across areas such as energy, agriculture, interest rates and equities. The company also provides market data, analytics and connectivity services to financial institutions and other market participants. Intercontinental Exchange owns the New York Stock Exchange and operates exchanges and clearing houses in multiple markets around the world.