Brown Brothers Harriman & Co. Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Brown Brothers Harriman & Co. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,702 shares of the financial services provider’s stock after selling 1,153 shares during the period. Brown Brothers Harriman & Co.’s holdings in Intercontinental Exchange were worth $5,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 35.0% in the 4th 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 purchasing an additional 4,251,371 shares during the last quarter. Capital World Investors lifted its holdings in Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 23.8% in the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after purchasing an additional 1,621,737 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after purchasing an additional 218,516 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their price objective for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft upped their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Citigroup lifted their price target on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.36.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $161.91 on Tuesday. The firm has a fifty day moving average of $154.62 and a 200-day moving average of $142.18. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $92.87 billion, a P/E ratio of 37.14, a PEG ratio of 2.81 and a beta of 1.08.

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

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total value of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,096 shares of company stock worth $9,593,983. 1.10% of the stock is currently owned by company insiders.

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.