LGT Fund Management Co Ltd. Lowers Holdings in Intercontinental Exchange Inc. $ICE

LGT Fund Management Co Ltd. cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 42.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 37,232 shares of the financial services provider’s stock after selling 27,231 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Intercontinental Exchange were worth $6,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ICE. Tsfg LLC lifted its stake in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Activest Wealth Management lifted its stake in Intercontinental Exchange by 4,050.0% in the 1st quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Weiss Ratings restated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Saturday, September 27th. JPMorgan Chase & Co. raised their price objective on shares of Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley lowered their price objective on shares of Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $198.20.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president owned 25,796 shares in the company, valued at $4,530,293.52. This trade represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total transaction of $506,079.00. Following the completion of the transaction, the director owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 230,874 shares of company stock worth $42,187,714 over the last 90 days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $162.47 on Friday. The stock has a market cap of $93.00 billion, a PE ratio of 31.18, a PEG ratio of 1.96 and a beta of 1.08. The company’s fifty day moving average is $176.53 and its 200 day moving average is $174.67. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.61.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

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.