Park Place Capital Corp Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Park Place Capital Corp lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.4% during the third quarter, Holdings Channel.com reports. The firm owned 655 shares of the financial services provider’s stock after selling 76 shares during the period. Park Place Capital Corp’s holdings in Intercontinental Exchange were worth $105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Intercontinental Exchange by 4.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after buying an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after buying an additional 28,771 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after buying an additional 191,763 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $162.09 on Wednesday. The stock has a market cap of $92.97 billion, a P/E ratio of 37.18, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s 50 day simple moving average is $158.32 and its 200 day simple moving average is $144.63. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $164.18.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Raymond James boosted their target price on Intercontinental Exchange from $174.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Barclays boosted their target price on Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Citigroup boosted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the sale, the insider now owns 14,636 shares in the company, valued at approximately $2,174,909.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction 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 transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total value of $148,600.00. Following the transaction, the insider now directly owns 14,636 shares in the company, valued at approximately $2,174,909.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,532 shares of company stock worth $1,507,309. 1.10% of the stock is owned by insiders.

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.