Intercontinental Exchange, Inc. (NYSE:ICE) is Independent Franchise Partners LLP’s 2nd Largest Position

Independent Franchise Partners LLP decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,637,011 shares of the financial services provider’s stock after selling 285,467 shares during the quarter. Intercontinental Exchange accounts for about 7.1% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 2nd biggest holding. Independent Franchise Partners LLP’s holdings in Intercontinental Exchange were worth $771,650,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Intercontinental Exchange by 7.5% during 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 buying an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares in the last quarter. Capital World Investors increased its holdings in shares of Intercontinental Exchange by 35.6% during 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 acquiring an additional 2,530,119 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of 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 acquiring an additional 1,621,737 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Intercontinental Exchange by 4.3% in 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. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $159.84 on Friday. The firm has a market capitalization of $91.68 billion, a PE ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The business’s 50 day moving average is $155.82 and its 200-day moving average is $142.77.

Intercontinental Exchange (NYSE:ICE) last posted 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. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company earned $1.43 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ICE. Barclays increased their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.08.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the 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 owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction 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 sale, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,166 shares of company stock worth $9,768,190. Corporate insiders own 1.10% of the company’s stock.

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.