Los Angeles Capital Management LLC Sells 18,578 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Los Angeles Capital Management LLC decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 38.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,524 shares of the financial services provider’s stock after selling 18,578 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intercontinental Exchange were worth $4,057,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in shares of Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after buying an additional 12,208 shares during the period. Wellington Management Group LLP increased its stake in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares during the period. D.A. Davidson & CO. lifted its holdings in Intercontinental Exchange by 8.5% during the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock worth $3,253,000 after purchasing an additional 1,991 shares during the last quarter. Point72 Europe London LLP boosted its stake in Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after purchasing an additional 6,500 shares during the period. Finally, LGT Group Foundation boosted its stake in Intercontinental Exchange by 36.0% in the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock valued at $45,724,000 after purchasing an additional 94,039 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on ICE. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup lifted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods reduced their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, Barclays lowered their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.29.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $137.11 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market cap of $78.64 billion, a PE ratio of 31.45, a P/E/G ratio of 2.54 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $140.43. The business’s 50-day moving average price is $133.74 and its two-hundred day moving average price is $131.74.

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

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $137.36, for a total transaction of $307,411.68. Following the sale, the director now owns 29,347 shares of the company’s stock, valued at approximately $4,031,103.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the completion of the transaction, the director now owns 29,347 shares in the company, valued at approximately $4,031,103.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,234 shares of company stock worth $8,668,823. Corporate insiders own 1.10% of the company’s stock.

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.