First Western Trust Bank Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

First Western Trust Bank reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,164 shares of the financial services provider’s stock after selling 2,481 shares during the quarter. First Western Trust Bank’s holdings in Intercontinental Exchange were worth $4,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in shares of Intercontinental Exchange in the second quarter worth about $124,508,000. Janus Henderson Group PLC lifted its stake in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares in the last quarter. James Hambro & Partners purchased a new position in Intercontinental Exchange in the 2nd quarter worth approximately $93,340,000. Assenagon Asset Management S.A. boosted its holdings in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after purchasing an additional 584,400 shares during the last quarter. Finally, Samlyn Capital LLC grew its position in shares of Intercontinental Exchange by 142.2% in the second quarter. Samlyn Capital LLC now owns 835,654 shares of the financial services provider’s stock valued at $114,393,000 after purchasing an additional 490,671 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

ICE stock opened at $155.55 on Monday. The company’s 50 day moving average is $160.97 and its two-hundred day moving average is $150.22. Intercontinental Exchange, Inc. has a twelve month low of $110.64 and a twelve month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $89.31 billion, a P/E ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This trade represents a 11.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, Barclays reduced their price target on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Profile

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.