NFJ Investment Group LLC Sells 59,597 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

NFJ Investment Group LLC decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 38.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 94,624 shares of the financial services provider’s stock after selling 59,597 shares during the period. NFJ Investment Group LLC’s holdings in Intercontinental Exchange were worth $15,200,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ICE. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange in the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC increased its stake in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange during the third quarter worth $26,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.3 %

NYSE ICE traded down $0.55 during trading hours on Tuesday, hitting $157.74. 372,810 shares of the company traded hands, compared to its average volume of 2,569,426. The stock has a market capitalization of $90.57 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 2.66 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $111.82 and a twelve month high of $167.99. The business’s 50-day moving average is $160.62 and its 200-day moving average is $152.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share 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 for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm earned $1.46 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,696 shares of company stock worth $1,554,559 in the last ninety days. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America raised their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays reduced their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Company 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.