Westpac Banking Corp Has $6.67 Million Stake in Intercontinental Exchange Inc. $ICE

Westpac Banking Corp cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.2% in the second quarter, Holdings Channel reports. The fund owned 36,365 shares of the financial services provider’s stock after selling 2,826 shares during the period. Westpac Banking Corp’s holdings in Intercontinental Exchange were worth $6,672,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the second quarter worth $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $29,000. Activest Wealth Management raised its stake in shares of Intercontinental Exchange by 4,050.0% in the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 162 shares during the last quarter. Hilltop National Bank acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $31,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Intercontinental Exchange during the first quarter worth approximately $30,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. TD Cowen reduced their target price on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Barclays set a $183.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Intercontinental Exchange has an average rating of “Buy” and a consensus price target of $194.70.

Intercontinental Exchange Trading Down 0.5%

Intercontinental Exchange stock opened at $152.00 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $86.67 billion, a P/E ratio of 29.17, a PEG ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The stock has a 50-day simple moving average of $160.17 and a 200 day simple moving average of $172.71.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $174.51, for a total value of $506,079.00. Following the completion of the sale, the director directly owned 18,169 shares in the company, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 10,082 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $158.88, for a total value of $1,601,828.16. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,365,331.20. This represents a 13.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 25,668 shares of company stock valued at $4,304,167 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.