PFG Investments LLC Sells 166 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

PFG Investments LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.9% in the 3rd quarter, Holdings Channel reports. The firm owned 5,499 shares of the financial services provider’s stock after selling 166 shares during the quarter. PFG Investments LLC’s holdings in Intercontinental Exchange were worth $883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 3,536,913 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Intercontinental Exchange by 4.3% during 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 acquiring an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Intercontinental Exchange by 0.6% during 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 acquiring an additional 28,771 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Intercontinental Exchange by 4.5% during 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 acquiring an additional 191,763 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Intercontinental Exchange by 10.4% during the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock valued at $413,298,000 after acquiring an additional 284,664 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $173.93.

Insider Activity

In other news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Stuart Glen Williams sold 468 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

NYSE ICE opened at $165.31 on Monday. The firm’s fifty day simple moving average is $161.61 and its two-hundred day simple moving average is $147.38. 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 12-month low of $104.49 and a 12-month high of $167.64. The firm has a market capitalization of $94.91 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.50 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 6.12 EPS for the current fiscal year.

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.