C WorldWide Group Holding A S Cuts Position in Intercontinental Exchange Inc. $ICE

C WorldWide Group Holding A S decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 98.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,746 shares of the financial services provider’s stock after selling 1,020,796 shares during the quarter. C WorldWide Group Holding A S’s holdings in Intercontinental Exchange were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Brooklands Fund Management Ltd purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Swiss RE Ltd. bought a new stake in Intercontinental Exchange in the fourth quarter worth $28,000. Lloyd Advisory Services LLC. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at $30,000. Rakuten Securities Inc. bought a new position in Intercontinental Exchange during the second quarter valued at $26,000. Finally, Kemnay Advisory Services Inc. bought a new position in Intercontinental Exchange during the fourth quarter valued at $37,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 2.2%

ICE opened at $157.67 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $149.58 and its 200-day moving average price is $151.68. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $176.59. The stock has a market cap of $88.51 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 1.57 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.06. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a return on equity of 14.95% and a net margin of 30.08%.Intercontinental Exchange’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 EPS. On average, equities analysts forecast that Intercontinental Exchange Inc. will post 8.1 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. UBS Group reaffirmed a “buy” rating and issued a $195.00 price target (up from $190.00) on shares of Intercontinental Exchange in a report on Friday, July 31st. Weiss Ratings upgraded Intercontinental Exchange from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Barclays restated an “overweight” rating and set a $182.00 price objective (up from $180.00) on shares of Intercontinental Exchange in a research report on Friday, July 31st. Finally, Wall Street Zen cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.17.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 4,574 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $161.77, for a total value of $739,935.98. Following the transaction, the general counsel directly owned 43,065 shares in the company, valued at approximately $6,966,625.05. This represents a 9.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $160.00, for a total transaction of $256,000.00. Following the completion of the transaction, the senior vice president directly owned 17,463 shares in the company, valued at $2,794,080. This represents a 8.39% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 40,912 shares of company stock valued at $6,403,616. 0.84% of the stock is owned by company insiders.

About Intercontinental Exchange

Intercontinental Exchange, Inc (NYSE: ICE) operates global exchanges, clearinghouses, data services and technology platforms. The company provides marketplaces for trading and clearing a range of financial and commodity products, including energy, agricultural commodities, interest rates, credit and equities.

ICE owns and operates the New York Stock Exchange and related equity markets, as well as futures and options exchanges in North America and Europe. Its businesses also include ICE Data Services, which provides market data, analytics, connectivity and other information services to financial institutions and corporations.

Through ICE Mortgage Technology, the company offers software and digital platforms designed to support residential mortgage origination, processing, servicing and related workflows.