PNC Financial Services Group Inc. Sells 2,733 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

PNC Financial Services Group Inc. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 175,814 shares of the financial services provider’s stock after selling 2,733 shares during the period. PNC Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $22,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $25,000. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Altshuler Shaham Ltd bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Finally, Sachetta LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,238 shares of Intercontinental Exchange stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $137.36, for a total transaction of $307,411.68. Following the completion of the sale, the director now directly owns 29,347 shares of the company’s stock, valued at approximately $4,031,103.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 350,880 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now owns 649,934 shares of the company’s stock, valued at approximately $565,442.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,238 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the sale, the director now owns 29,347 shares in the company, valued at approximately $4,031,103.92. The disclosure for this sale can be found here. Insiders sold 63,234 shares of company stock valued at $8,668,823 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $136.20 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $140.43. The company has a market cap of $78.12 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $133.57 and its 200-day simple moving average is $131.51.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $1.41 earnings per share. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ICE shares. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley increased their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Bank of America lowered their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Finally, Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.29.

About Intercontinental Exchange

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.